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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / Reverse invoices again...
Small and medium business | Business Central, N...
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Reverse invoices against a new Asset

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Posted on by SammyG 158
HI all,
we have raised a number of invoices against a new asset which were against the wrong asset numbers – what is the best way or reversing these invoices? Can we move them across to the other asset vias a journal or do we need to reverse or cancel them?
Many thanks
 
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Business Central
  • Verified answer
    Valentin Castravet Profile Picture
    Valentin Castravet 24,793 Super User 2024 Season 2 on at
    Reverse invoices against a new Asset
    If you would like you could use the Cancel entries function. First, you would have to turn off G/L Integration in your Depreciation book. After you cancel the acquisition entries, you would re-post them to the correct fixed assets using the Fixed Asset Journals (not the FA G/L Journals). When you are done you would turn on G/L Integration back on.
     
    However, I would recommend reversing the invoices and re-posting them with the correct fixed assets. Its cleaner in terms of an audit trail.

    The other issue with not reversing the invoices is that do all your assets go to the same GL account in the balance sheet? If they don't, then not reversing the invoices and only changing the assets in the FA subledger will make your GL not reconcile to the FA subledger. 
     
  • SammyG Profile Picture
    SammyG 158 on at
    Reverse invoices against a new Asset
    Thanks for your reply. I believe we do not want to reverse the Purchase Invoices but rather that we disassociate them with this specific asset. For that reason, I thought the ‘cancel entries’ function would be better than the reverse entries which might reverse out the GL as well?
  • Jun Wang Profile Picture
    Jun Wang 7,443 Super User 2024 Season 2 on at
    Reverse invoices against a new Asset
    depends on how the invoices were posted. If they got posted through journals, you could reverse from journals
    if they got posted through purchase invoices, you reverse through credit memo
     
    then start to acquire them correctly again
     
    Jun Wang
  • gdrenteria Profile Picture
    gdrenteria 12,167 Most Valuable Professional on at
    Reverse invoices against a new Asset
    Hi
    To cancel an acquisition cost posting for one fixed asset
    Acquire fixed assets - Business Central | Microsoft Learn
    You can perform some operations with fixed assets.
    BR
    GR

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