AQUISITION DATE IN Fixed asset

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i have found out that our software implementing agents, put a wrong aquistion cost in Fixed assets. Is there a way to correct the figure. like it was suppose to be 6,040 but they put it 6,040,000.

can any one help out for the possible solutions.

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Community Member on at

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RE: AQUISITION DATE IN Fixed asset

after selecting the book id it gives the following info. when i am changing the cost basis it is giving me the below message.

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Community Member on at

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RE: AQUISITION DATE IN Fixed asset

appropriate answer i have changed the acquisition cost. the depreciation had been run earlier, but now as i am checking the asset book, it is empty as attached the screen shot. i wonder how the system had calculated the depreciation earlier or i would appreciate if someone can tell me the whole process to run year end depreciation properly.

Thanks

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soma 24,410 on at

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RE: AQUISITION DATE IN Fixed asset

You can change the cost in Asset General Information window by clicking Blue arrow near by the Acquisition cost field.

After that go to Asset book window and enter the new amount in Cost basis field, then click the save button. While save the asset system ask you to reset the life/year. Select the appropriate one. Then post the asset new value from Fixed Asset to GL.

Hope this helps!!!

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Mahmoud Saadi 32,738 on at

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RE: AQUISITION DATE IN Fixed asset

Yes, you definitely can change the acquisition cost. Check Frank's article for comprehensive details Modify Acquisition Cost of a Fixed Asset

You do need to take into consideration that if the asset has been depreciated already, then the cost basis shall be considered as part of your correction. It is the field upon which depreciation calculates.

Your feedback is highly appreciated,

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