How do you correct an Asset that is being depreciated, that should have been just expensed? It was assigned to the wrong category. I tried transferring it from the Assignments window to an expense account, but it still depreciated.
Retire the asset to the date it was placed in service and re-enter the asset manually to an expense account.
Thank you Cheryl. I'll do that. Say, could you tell me what the accounting will look like? Does it adjust out the depreciation expense that already happened?
Yes, when you retire the asset back to the date of service, is should back out the depreciation created.