You can use this function to help you remove one or more fixed asset ledger entries from the FA Ledger Entries window. If you posted erroneous transaction(s) to one or more fixed assets, you can use this function to cancel the fixed asset ledger entries. In the FA Ledger Entries window, highlight the entry or entries that you want to cancel and click Functions, Cancel Entries.
The program uses the FA Posting Date to perform many calculations in the Fixed Assets application area. Erroneous fixed asset ledger entries must therefore be removed from the FA Ledger Entries window.
If you need to cancel entries for various fixed assets, you can access this function in the form of a batch job from the Depreciation Book Card window. From this window, click Functions, Cancel FA Ledger Entries. In the batch job request window that appears, you can specify the conditions to be used in the batch job.
The function copies the fixed asset ledger entries that you want to cancel to a journal. If the fixed asset(s) are integrated with the general ledger, the program transfers the entries to the FA G/L journal. Otherwise, the program transfers the entries to the FA journal. You can then post the journal or adjust the entries before posting, if necessary. The fixed asset ledger entries are then removed from the FA Ledger Entries window and are posted to the FA Error Ledger Entries window.
By canceling erroneous fixed asset ledger entries, statistics windows and reports will show accurate amounts for fixed assets.
You can specify how the batch job is run by filling in the fields on the Options tab. Fill in the fields as follows:
Use New Posting Date: A check mark in this field indicates that a new posting date will be applied to the journal entries created by the batch job. If the field does not contain a check mark, the posting date of the fixed asset ledger entries to be cancelled are copied to the journal entries created by the batch job.
New Posting Date: This field contains the posting date to be applied to the journal entries created by the batch job when the Use New Posting Date field contains a check mark.