Fixed Assets - EBS (MOSC)

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Fixed Assets Query on Type of Asset

edited Aug 16, 2016 5:00AM in Fixed Assets - EBS (MOSC) 6 commentsAnswered

Hi Team

Please help me to understand few functionalities in FA if they can be achievable.

Requirement - There are around 60 to 70 Assets are capitalized in system during Financial Year 2015-16 (APR - MAR). Accordingly depreciation was run for few months. During Audit it is noticed these assets  are not supposed to capitalized, instead they should be expense it off. Is there any way we ca re-classify them as expense assets with the same asset numbers.

I thought of Retire them and pass adjustment entries (if required) and re-enter new assets as expense assets. Any pointers on achieving this requirement please?

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