Have you ever discovered a significant error after loading your Fixed Assets using the SIG product? It can be quite frustrating, but don't worry—there is a way to rectify the situation. We have outlined the steps below to help you correct this and reset the process.
Before you start, make sure the accounting periods are open. This is crucial for the successful completion of these steps.
- The first step is to remove all of the existing Journal Entries. You can do this by navigating to General Ledger > All > Journal Entries. Then, delete all of the entries on the FAJ journal.
- The second step is to remove all of the current depreciation schedules. To do this, navigate to Fixed Assets > Depreciation Schedules. Once you've selected "All Schedules," you can delete them.
- Once you've removed the current depreciation schedules, you'll need to adjust the status of your assets. To do this, navigate to Fixed Assets > Fixed Assets. Then, select All Assets > More Actions > Mass Update > Status and change the field to "Review."
- Finally, you can make all the necessary changes to the assets, such as an updated dimension. To do this, navigate to All Assets > More Actions > Generate Schedules and update the information.
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Check out these blogs to help get you started!
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