problem canceling a FA Entry

Hello,

We are using Nav2009, SP1

A few days ago I posted using FA journal(acuisition cost and depreciation) from data migration with FA posting date 29/02/12.

and also posted a monthly depreciation using FA G/L journal for just one asset Fa no.10 on 31/03/12.

Now, since the date of the Fa entries was wrong, i had to cancel them, but this monthly depreci. i did for  that asset is preventing it.

The FA situation is as below:

The first two lines are the intial entries with FA journal, the third one is the depreciation cancelled with FA journal.

The fourth is march depreciation using FA g/L journal, last one is the reversed entry of the fourth line

FA Posting Date Depreciation Book Code FA No. FA Posting Type Amount
29/02/2012 DEF_DEPR FA00010 Acquisition Cost 1,718,967.75
29/02/2012 DEF_DEPR FA00010 Depreciation -334,243.73
29/02/2012 DEF_DEPR FA00010 Depreciation 334,243.73
31/03/2012 DEF_DEPR FA00010 Depreciation -23,875.00
31/03/2012 DEF_DEPR FA00010 Depreciation 23,875.00

I cannot cancel the first line because there is a NAV message:

"Book Value should not be negative or less than Salvage values for the asset no.10....." and while trying various ways there is also another message"

First entry mus be an Acquisition Cost for FA no.qq0..."

Pleasee, can anyone help on this problem?

thanks in advance

  • My client has exactly the same problem:  did anyone get a solution?

    They have:

    1 Acquisition invoice

    4 self-reversing depreciations, last pair dated 30 Sep 2014, so current book value is unchanged

    Trying to use a Credit Memo to reverse the in invoice, but error as above:

    "Book Value should not be negative or less than Salvage value on 31 Oct 2014"

    Note that the date in the error suggests is beyond the last depreciation date, as if it is calculating what it would be worth a month later, and finding the Credit Memo greater than what the book value would be.

  • In reply to Hamish Macdonald:

    You do not need to create documents to cancel FA Ledger entries (and associated GL, too, if Post to GL is activated for that type of FA entry).

    Instead, drill down to FA Ledger Entries from FA card and run Cancel Entries. This will create lines in FA GL journal, which you must post then manually. After posting the journal those lines will disappear from FA Ledger Entries (they are moved to FA Error Ledger Entries, NOT deleted completely, but sitting there they do not affect FA book value anymore).
    Only exception could be the initial purchase of FA, then CM should be used to reflect the rollback in Vendor Ledger, too.

    Then, check what you may have entered for Salvage value. It's a rarely used option, it's even not present on the form (page) by default. You can find it in Statistics and check if there is a nonzero amount.

  • In reply to Modris Ivans:

    Hi Modris,

    Thanks: I did that (in a test environment) and I think it may be almost there:

    I went to the FA Ledger Entries, and ran "Cancel Entries" as you suggested.

    This generated a single non-balancing line in the FA GL Journal, of the same value of the original acquisition (without VAT)

    My problem now is, to post it, I need to balance it against something.

    I'd like to balance it against the Vendor (which would reverse the original invoice), but for this I would need to include the VAT, and then it won't balance.

    I suppose I could balance it against a GL account, and then do manual journals/credit memo to reverse the Vendor invoice.

    Or should it not have generated a non-balancing FA GL Journal Line?

  • In reply to Hamish Macdonald:

    Hi Modris,

    Thanks for your help.  We have decided to reverse it manually: an FA journal to zero down the asset, and an ordinary Credit Memo to reverse the Vendor invoice.

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