If you incorrectly entered the purchase price, purchase date, or other key asset details at time of purchase, and the purchase was within the current financial year, you can correct any and all of those details with the following method. Depreciation will be re-calculated based on the new asset details from the purchase date using this method.
Do the following:
Undo all transactions on the asset. See: Undo transactions for an asset.
On the Asset Masterfile adjust the Asset Cost and other details as needed.
Reactivate the asset using F6 Auto-Activate on the Masterfile.
📌Note: This method will post the entire adjustment in the current period. Prior periods will not be changed. The amounts posted will effectively be the change required to bring the asset to the valuation it would have had if it was entered correctly at time of purchase.