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For the Fixed Assets Depreciation that was generated for this past month have one item that shows Depreciation as the Transaction Type and another entry for Reserve as the Transaction Type. The Reserve Transaction Type reversed out the amount of the Depreciation.
On the Fixed Assets side the FA Journal shows the correct amount when reviewing the Depreciation Expense to General Ledger Report.
On the Financial side it shows the Depreciation and then it shows the Reserve amount being reversed.
Other Assets that have the exact same configuration in Fixed Assets didn't have the Reserve Transaction Type showing. Any suggestions on how to prevent this from happening for next month?
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Hello Kevin!
When running a depreciation it still needs to balance and the reserve account is used as the offset for the depreciation expense account. You can see this by going to Inquiry>Fixed Assets>Financial Detail, for each depreciation transaction account type you will see a Reserve account hit.
Is it possible that this was the final depreciation for the asset and it needed to make a correction?
Are you saying that the depreciation reserve amount itself was reversed?
Thank you
Joshua
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