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Fixing a fixed asset valuation

Posted on by 5

I need to change the value of an asset that I have already depreciated. I was thinking to delete the original asset from the book, reverse the depreciation, and then re-enter the updated asset with the original service start date. Once I depreciate this updated asset, it should more or less wash the reversal of the A/D and depreciation of the old asset. Will this work?

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  • Number Cruncher Profile Picture
    Number Cruncher 5 on at
    RE: Fixing a fixed asset valuation

    Here it is:

    docs.microsoft.com/.../fa-how-revalue

  • Number Cruncher Profile Picture
    Number Cruncher 5 on at
    RE: Fixing a fixed asset valuation

    Thank you for your response. I read through the articles but none of which indicated how to correct the valuation of a fixed asset that was entered a few fiscal months ago. Can you advise?

  • RE: Fixing a fixed asset valuation

    Hello, regarding the question, I would recommend reading the following link that contains information on different processes that can be done regarding the depreciation of fixed assets:

    docs.microsoft.com/.../fa-how-depreciate-amortize

    Thanks!

    Community Support Team - Esteban

    If this Post helps, then please consider Accept as solution to help the other members find it more quickly.

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