If an asset has been activated and several other transactions completed (Depreciation etc.), you can undo all of the asset's transactions in order to:
Recalculate depreciation from the time the asset was purchased or first activated.
Change the original cost or any other Masterfile details from the time the asset was activated.
However, if you want to:
Change the deprecation calculated only for some periods, then a Special Depreciation transaction may be better to use.
Amend the depreciation rate on the Masterfile going forward, then a Depreciation Rate Change transaction is best to use.
Change a category on the Masterfile going forward, then a Transfer transaction is best to use.
Undo all transactions and those transactions go back to a prior year, you should consider whether you need to recognise the change in your prior year accounts. If so, this situation is complex and requires many steps so is not covered by this article. Undo is best used only for transactions within the current year because otherwise prior year reports may become inaccurate.
Any transactions that are undone will have their full reversal posted to the current period. Any Activation and subsequent Depreciation Run will also be posted to the current period. Prior periods will not be affected in Asset Management when using Undo.
To Undo transactions for an asset
Go to Transactions, Assets, Undo.
Click in Code field and enter asset code.
Confirm asset selected and either:
Tick Undo year (selects all transactions this year).
Click on a transaction in the list, all transactions after and including this transaction will be undone.
Press Accept F9 to undo.
Click Yes to undo all.