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How to remove erroneously created Asset in status Depreciating
Hi,
We have the following situation: fixed asset was created in current period (period is still open) and then depreciation was run for this period. Then it turned out that the postings should be reclassed from fixed asset account to expenses meaning that this asset shouldn't has been created at all.
Could you please provide action plan how to correctly reverse depreciation and what to do with the asset (delete? or inactivate, set "Depreciation Active" to FALSE and exclude from the reports?).
I have already read some articles in SuiteAnswers and community discussions here about similar cases, but suggested action plan always includes deletion or reversal (by setting reversal date) of depreciation journal. Is there an option not to delete / reverse depreciation journal - this journal contains postings for many other assets and therefore we would like to avoid the deletion / reversal of this journal.