Fixed Assets - EBS (MOSC)

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CIP Assets. Appropriate treatments for returns and additions

edited Sep 8, 2015 2:10AM in Fixed Assets - EBS (MOSC) 5 commentsAnswered ✓

hello,

What is the appropriate treatment to a CIP assets for which a reduction in cost is made? That is, materials are returned to inventory.

I know it can be done in the asset workbench by querying the asset and adding a negative source line. However if we do so only the asset cost will be affected not the reduction in inventory value.

Therefore do we need to make a manual journal entry in GL once we have transferred the assets for inventory please?

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