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Fixed Asset Acquisition Reversal

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Posted on by Icarus13

Getting the following error when trying to reverse a acquisition any help appreciated ?.

Book Value must not be negative or less than Salvage Value on 28/02/23 for Fixed Asset No. FA00005 in Depreciation Book Code = DEPN1.

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KasparsSemjonovs 3,962 Super User 2024 Season 2 on at

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RE: Fixed Asset Acquisition Reversal

Use the Cancel option for correcting FA entries. Reversing will just cause more problems in future.

Filter and select the needed entries (can be one or several selected), press Cancel button. Entries will be created in FA journal (or FA G/L journal based on setup). Then just post the Journal lines.

Canceled entries will not show in FA Ledger entries and are moved to FA Error Ledger Entries - so You don't see them in daily use afterwards when checking the history or FA entries.
Jun Wang 7,443 Super User 2024 Season 2 on at

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RE: Fixed Asset Acquisition Reversal

why do you want to reverse? if it's a newly acquired asset, it doesn't make sense to get the above error.
Icarus13 52 on at

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RE: Fixed Asset Acquisition Reversal

Thanks for your feedback however neither of these have worked.
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YUN ZHU 74,115 Super User 2024 Season 2 on at

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RE: Fixed Asset Acquisition Reversal

Hi, hope the folowing info helps.

https://www.dynamicsuser.net/t/reclassify-fixed-asset-error-message-acquisition-cost-must-not-be-negative-on-10-31-2013-for-fixed-asset-no-300041-in-depreciation-book-code-book/49416

Thanks.

ZHU