Fixed Assets - EBS (MOSC)

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Retiring an asset in the current period using the previous period date

edited Apr 4, 2011 6:00PM in Fixed Assets - EBS (MOSC) 6 commentsAnswered
 11.5.10.02

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Hi all

An asset was to be retired in Feb-11, however it was not, the asset was fully depreciated in Feb-1, which is the last month depreciation was charge on it. In Mar-11 i retired the asset with retired date 28-Feb-11. Shouldnt the system reverse the depreciation it had book in Feb-10 on the asset? If not please advise me on how to retire the asset so that the system can reverse the depreciation it book in the final month of the asset life?

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