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Uncapitalize an asset from the prior period

in Assets 3 comments

Summary:


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  1. Asset #900201 - Was incorrectly capitalized in 2021. This piece of equipment has never been used and needs to go back to CIP and all the depreciation reversed. I do not know how to uncapitalize an asset from a prior period. 
  2. Additionally, asset #900001 is in CIP with a cost of $253k and that is incorrect. The asset in CIP needs to be written down to $50k and stay in CIP. There is no way for me to adjust the cost of a CIP asset. I tried to capitalize it in lower instance, write down to $50k, and uncapitalize it all in the same period and it did not let me perform this action. 

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