Reverse a full disposal—Fixed Assets Management

If reversals are enabled in Fixed Assets Management, you can reverse a full disposal to correct mistakes, such as disposing of the wrong asset or recording a disposal prematurely. Reversing lets you correct errors while preserving posted accounting activity instead of deleting existing journal entries.

Reversing a full disposal does the following:

  • Creates a reversal journal entry to offset the original disposal posting. For depreciable assets, a separate reversal journal entry is created for each depreciation schedule.

  • Retains the original disposal record in the Disposal details section, marks it as reversed, and records the reversal date.

  • Returns the asset to the In service state.

  • For depreciable assets, restores the state of Canceled depreciation entries to Not posted.

  • Assets with reversed disposals cannot be deleted.

  • Assets with reversed disposals cannot be moved back to the Ready for review state using the Revert place in service action.

Before you begin

Verify the following:

  • The asset is in the Disposed state.

  • The asset is active.

Reverse a full disposal

SubscriptionFixed Assets Management
Regional availability

All regions

User typeBusiness
Permissions

Fixed Assets Management

  • Asset: List, View, Edit

Configuration

Correction treatment must be set to Reverse in Fixed Assets Management configuration.

  1. Go to Fixed Assets Management > All > Assets.

  2. Find the asset with the full disposal that you want to reverse.

  3. Select the asset's name to view it.
  4. Select the Disposals tab.

  5. Find the most recent full disposal.

    Full disposals have a blank value in the Partial disposal column.
  6. At the end of the row, select More actions > Reverse.

  7. Select a Reversal date.

    The reversal date must meet the following requirements:

    • Be on or after the full disposal date.

    • Be in an open period.

  8. Select Reverse to confirm.

Next step: View disposal journal entries.