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While the asset is terminated at the end of lease period, Accumulated depreciation is not reversed, Due to this an adjustment entry has to be passed to net off the accumulated depreciation account.

JAGADISH BABU on 7/21/2023 9:23:23 AM

When the asset is terminated at the end of lease period, the accumulated depreciation value left in the account is not being reversed. And the value is being carry word to every year.

Hence user is manually posting an adjustment entry to Knock off the value present under the accumulated depreciation account.

Category: Asset Leasing
STATUS DETAILS
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Comments

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RE: While the asset is terminated at the end of lease period, Accumulated depreciation is not reversed, Due to this an adjustment entry has to be passed to net off the accumulated depreciation account.

Klaus Mussauer on 4/10/2024 1:27:09 PM

Must be fixed by Microsoft from our point of view ASAP, because it is a required standard functionality for a leased asset.

Category: Asset Leasing

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RE: While the asset is terminated at the end of lease period, Accumulated depreciation is not reversed, Due to this an adjustment entry has to be passed to net off the accumulated depreciation account.

Mari Hart on 11/2/2023 2:51:49 PM

done

Category: Asset Leasing

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RE: While the asset is terminated at the end of lease period, Accumulated depreciation is not reversed, Due to this an adjustment entry has to be passed to net off the accumulated depreciation account.

Leslie Camino on 11/2/2023 2:26:13 PM

Done

Category: Asset Leasing

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RE: While the asset is terminated at the end of lease period, Accumulated depreciation is not reversed, Due to this an adjustment entry has to be passed to net off the accumulated depreciation account.

Andrzej Miozga on 10/24/2023 8:28:29 AM

Do this

Category: Asset Leasing

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RE: While the asset is terminated at the end of lease period, Accumulated depreciation is not reversed, Due to this an adjustment entry has to be passed to net off the accumulated depreciation account.

Oscar Avelino on 10/16/2023 1:55:06 PM

Done.

Category: Asset Leasing

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RE: While the asset is terminated at the end of lease period, Accumulated depreciation is not reversed, Due to this an adjustment entry has to be passed to net off the accumulated depreciation account.

Oscar Salgado on 10/16/2023 1:25:36 PM

Done.

Category: Asset Leasing