Use this screen to post a reversal of a current period depreciation or disposal FA journal entry posting made in the current FY/Pd/Subpd. A reversal entry can be posted only in the current FY/Pd/Subpd. Once you have closed the current period, you cannot reverse entries posted in a prior period.
Although transfers are currently posted in the same Post Fixed Assets Journal screen as depreciation and disposals, you cannot perform reversing transfer entries. To achieve the same effect as a "reversal" of a transfer entry previously made in the current period, you must change the data back to its "pre-change" status in the Asset Acct/Org/Proj/Ref1/Ref2 fields and/or the Accum Depr Acct/Org/Proj/Ref1/Ref2 fields (via the Accum Depr Acct Code), either manually in the Asset Master screens or via the Global Change functions. Because the change details are stored in the ASSET_AUDIT_LOG table, posting a second transfer entry in this manner effectively creates a "reversing" transfer entry.
The current Fiscal Year, Period, and Subperiod display in this screen for information purposes only (as they do in the Compute Depreciation screen and in the Post Fixed Assets Journal screens).
You must specify the FA journal sequence number (by which the original entry was posted in the current period) for which reversal is desired for the current period. No Lookup is available. The system validates that the journal sequence number to be reversed is an original entry from the current period for types DEPR, DISP, or DADJ and NOT a reversing entry (RDEP, RDIS, RDAD). You can reverse only original depreciation entries or original disposal/depreciation adjustment entries.
When depreciation expense entries are posted from the Post Fixed Assets Journal screen, the system writes "DEPR" to the Posting Detail table.
When disposal entries are posted from the Post Fixed Assets Journal screen, the system writes "DISP" to the Posting Detail table for the disposal portion of the journal entry.
Additionally, if a depreciation adjustment related to a disposal is posted from the Post Fixed Assets Journal screen, the system writes "DADJ" to the Posting Detail table for the depreciation adjustment portion of the journal entry.
(When you post transfer entries from the Post Fixed Assets Journal screen, the system writes "TRF" to the Posting Detail table. The reverse posting process from this screen, however, will NOT reverse original transfer entries.)
When you post depreciation reversal entries from this screen, the system writes "RDEP" to the Posting Detail table. You cannot reverse an RDEP type entry.
When you post disposal reversal entries from this screen, the system writes "RDSP" to the Posting Detail table for the disposal portion of the journal entry. You cannot reverse an RDSP type entry.
Additionally, when you post a depreciation adjustment reversal entry related to a disposal from this screen, the system writes "RDAD" to the Posting Detail table for the depreciation adjustment portion of the journal entry. You cannot reverse an RDAD type entry.
You must print the Fixed Assets Journal before the posting can proceed (or you must print it in concert with the posting). You can select the Print Detail Journal by Asset/Item No checkbox to print the Fixed Assets Journal in detail format, displaying the to-be-posted amounts by asset/item number. (If you have a large number of asset records, you should print a summary journal first to review the totals, and only print the detail version of the Journal if needed.)
Just as a posting from FAPFJNL can be identified by the sequence number and FY/Pd/Subpd data in the FA_POSTING_DETL table (and its components identified by Type: DEPR, DISP, DADJ, and TRF), a reverse posting executed from this screen will carry similar Type identification: RDEP, RDIS, and RDAD. You cannot reverse a transfer entry or a reversing entry. You can reverse the same original non-reversing sequence number only once.
Some specific rules regarding type selection and processing order must apply for a specific sequence number when posting a reversal entry, as follows:
If you have selected both the Depreciation and Disposals checkboxes in the Select FA Entry Type(s) to Reverse group box, the system will reverse the DISP entry first.
If you have selected only the Depreciation checkbox in the Select FA Entry Type(s) to Reverse group box, the system will automatically post reversals that share the same FA Journal Posting Sequence No for DEPR and DISP entry types (and DADJ types) in the FA_POSTING_DETL table. When you select Depreciation checkbox in this circumstance, the system automatically selects the Disposals checkbox, which you cannot uncheck.
If you have selected only the Disposals checkbox in the Select FA Entry Type(s) to Reverse group box, the system will post reversals only for DISP (and DADJ) entry types in the FA_POSTING_DETL table.
You can post reversals of depreciation, disposals, and depreciation adjustments related to a disposal only to the current fiscal year, period, and subperiod combination designated in the Posting Settings screen. You can post reversing entries only for entries originally posted in the current period.
After you close the Fixed Assets period, you cannot reopen it to add additional data or make changes to existing data, or for any other reason. You can, however, make applicable corrections or additions in the next accounting period.
Before posting, you must print the Fixed Assets Journal. You can print the Journal in either detail or summary format by checking or unchecking the Print Detail Journal by Asset/Item No checkbox. The Journal provides supporting detail for your journal entries and should be retained as part of the system audit trail. (You can always print reports for all posted transactions, "after-the-fact," in both summary and detail format for one prior period, a range of prior periods, or all prior periods, if needed.)
Although you must print the Journal before posting, you can also print the Journal without posting, to review and correct data before posting. If you exit from the screen or change your selections, however, you must print the Journal again before you will be allowed to post.
Use the field in this group box to select the FA journal entry sequence number posted in the current accounting period for which you want to post a reversing entry.
Enter the FA journal entry sequence number posted in the current accounting period for which you want to post a reversing entry. The original sequence number will be reflected in the General Ledger, will be printed on the Fixed Assets Journal, and will print on the Posted Transactions Detail Report.
Use the options in this group box to choose which type of entry to post. Both checkboxes in this group box default as unchecked.
Some specific rules regarding type selection and processing order apply for a specific sequence number when posting a reversal entry, as follows:
If you have selected both the Depreciation and Disposals checkboxes, the system will reverse the DISP entry first.
If you have selected only the Depreciation checkbox, the system will also automatically post reversals for DEPR and DISP entry types (and DADJ types) in the FA_POSTING_DETL table that share the same FA Journal Posting Sequence No. When you select the Depreciation checkbox in this circumstance, the system automatically selects Disposals checkbox, which you cannot uncheck.
If you have selected only the Disposals checkbox, the system will post reversals only for DISP entry types (and DADJ types) in the FA_POSTING_DETL table.
You can post only one reversing entry for the same original sequence number within the current accounting period.
Select this checkbox to post a reversal of the current period depreciation expense entries for the G/L Book (Book 1) for the selected sequence number.
When you select this checkbox, the system automatically selects the Disposals checkbox, which you cannot uncheck.
Select this checkbox to post a reversal of the current period disposal entries (and related depreciation adjustments) for the G/L Book (Book 1) for the selected sequence number.
With you select this checkbox, the system automatically re-creates the disposal data in the Maintain Single/Multiple Disposal Transactions screens during the posting process.
The fields in this group box are non-editable. Because only one accounting period can be open and designated as "current" at any given time in Costpoint Fixed Assets, you can post entries to the G/L only for the fiscal year, period, and subperiod combination displayed in the Postings Settings screen.
The current fiscal year from the Posting Settings screen displays in this non-editable field. This is the fiscal year to which all entries will be posted for this posting session. You can change the fiscal year in the Posting Settings screen only before you post for the first time.
The current period from the Posting Settings screen displays in this non-editable field. This is the period to which all entries will be posted for this posting session. You can change the current period in the Posting Settings screen only before you post for the first time.
The current subperiod from the Posting Settings screen displays in this non-editable field. This is the subperiod to which all entries will be posted for this posting session. When you run the Close Fixed Assets Acctng Pd process, "1" always defaults into the Current Subperiod field in the Posting Settings screen. If you have more than one subperiod per period, and you do not want to post all entries for this posting session to Subperiod 1, you should return to the Posting Settings screen and change the subperiod before posting.
Use the checkbox in this group box to choose whether to print a detail journal by asset/item number.
This checkbox is unchecked by default. If you leave this checkbox unchecked, the Fixed Assets Journal will only print a summary report of debit and credit totals for each account/org/project combination. Select this checkbox if to print a detail report that includes a breakdown of each debit and credit by asset/item number for each account/organization/project.
The printing status of the Journal displays in this field. When the Journal status displays "Journal Not Printed," the Post button on the toolbar is disabled. To post, you must first print the Journal using the Print button on the toolbar or the Print Journal/Post Reverse Depreciation button on the toolbar.
Select this button on the toolbar to reverse post depreciation and/or disposal entries for the G/L Book (Book 1) for depreciable records.
The system will validate that the Close Fixed Assets Accounting Period process has completed (that is, it is not currently being run or previously failed while being run). You cannot post any entries until the previous period's close has finished successfully.
Select this button on the toolbar to print and post the Fixed Assets Journal simultaneously. As a matter of procedure, you should always review the Fixed Assets Journal information before posting.
In general, for the reverse posting, the following tables will be involved:
The Fixed Assets Posting Detail table stores all the detailed information related to the posted journal entries, including the asset/item number, FY/Pd/Subpd, type, sequence number, transaction amount, POA, and so on. The system writes data to this table when you successfully run the posting process from the Post Fixed Assets Journal screen.
For a reverse posting, data from the "original" posting must first be retrieved and re-built from this table to form the basis for creating the reversing entry. Once you post the reversing entry, this table stores data equivalent to data stored from an "original" posting.
The Fixed Assets Settings table holds the current accounting fiscal year, period, and subperiod displayed in the Posting Settings screen. The posting process uses this data from this table to create posting records in the Fixed Assets Posting Detail table.
For a reverse posting, the Fixed Assets Settings table is accessed in the same manner.
When you run the posting process from the Post Fixed Assets Journal screen, the system inserts a summary record into the Financial Statement Summary table for each account/org to which depreciable assets have been posted. After posting, the FS_SUM table contains the account, organization, and FY to which posted, along with the total cumulative transaction amount for each period. (If more than one FA posting has occurred in a single period, the system increments (or decrements) the total amount for the period on a cumulative basis.) No detailed posting data, such as asset/item number, sequence number, entry type, and so on, is written to this table.
For a reverse posting, the Financial Statement Summary table is used in the same manner.
When the posting process is run from the Post Fixed Assets Journal screen, the system inserts a summary record into the General Ledger Posting Summary table for each account/org/project to which depreciable assets have been posted. After posting, the GL_POST_SUM table contains the account, organization, project, FY/Pd/Subpd to which posted, along with the journal code "FA," and the total cumulative posted amount for the FY/Pd/Subpd for each JE (posting sequence) number. No detailed data, such as asset/item number, entry type, and so on is written to this table.
For a reverse posting, the General Ledger Posting Summary table is used in the same manner.
When you run the posting process from the Post Fixed Assets Journal screen, the system inserts a summary record into the General Ledger Detail table to match the summary record inserted into the General Ledger Summary table. Account, organization, and project information is not duplicated in this table, which contains the entry user ID, the posting user ID, the transaction description ("FA Posting"), and the transaction amount. No detailed data, such as asset/item number, entry type, and so on. is written to this table. Rows in this table are linked to rows in GL_POST_SUM via the level key columns and the source key (which is always "210" for Fixed Asset entries).
For a reverse posting, the General Ledger Detail table is used in the same manner.
If you have has activated the use of reference numbers, the system inserts a summary record into the Reference Summary table for each account and reference number to which depreciable assets have been posted. After posting, this table contains the account, reference number, and FY to which posted, along with the total cumulative transaction amount for each period. [If more than one FA posting has occurred in a single period, the system increments (or decrements) the total amount for the period on a cumulative basis.] No detailed posting data, such as asset/item number, sequence number, entry type, and so on, is written to this table.
For a reverse posting, the Reference Summary table is used in the same manner.
Before posting, the system reads the current period depreciation amount and the amount posted to calculate the amount to post on an asset-by-asset basis. (If these values are equal, nothing can be posted for the asset. If these values are not equal, the system posts the value required to make the cumulative posted amount equal to the current period depreciation amount.)
For "DEPR" type posted entries, the system writes data directly to the Asset Master record (in the ASSET table). When you post depreciation expense, the system adds the amount posted in the current session to the total amount already posted (if any exists), displays the cumulative amount of all postings for the period in the G/L Book Info subtask of the Maintain Asset Master Info screen, and cumulatively increments or decrements the value in the Amount Posted Curr Pd field. This brings the amount posted into balance with the amount of current period depreciation.
For a reverse posting, the value in the Amount Posted Curr Pd field is updated appropriately.
For "DISP" type posted entries, the system writes data directly to or changes data in the Asset Master record (in the ASSET table) as follows:
For depreciable assets (and for non-depreciable assets for which the Post Disposal to G/L checkbox has been selected in the Maintain Asset Master Info screen or the Post Disp to G/L checkbox has been selected in the Maintain Asset Desc Info screen), the posting process writes data to the following Asset Master fields, as applicable: Disposal Date, Disposal Fiscal Yr, Disposal Period, Disposal Subpd, Disposal Desc, Disp Type, Disposal Doc No, Posting Date, Posting Time, Posting Sequence No, Posting User ID, and Disposal Entry Type (System-Generated or Manual).
For a reverse posting, system sets the data in these fields to blanks.
In addition, during the posting process for a disposal, the system sets the record status to "D" (Disposal).
For a reverse posting, the system resets the record status to "A" (Active).
Finally, for a posted disposal, the system also disables the OK pushbutton in the G/L Book Info subtask, the Disposal Info subtask, and the Other Books Info subtasks of the Maintain Asset Master Info screen. As a result, although you can view the data in these subtasks, you cannot save any changes.
For a reverse posting, the system renders these fields/screens available for edits.
For "DEPR," "DISP," and "TRF" type posted entries, the system writes no data to this table.
For "DADJ" type posted entries (which are optional and, if entered, can be posted only in conjunction with a "DISP" type entry), the system writes data to this table as applicable.
For a reverse posting, the system deletes this data.
For "DEPR" type posted entries, the ASSET_OTH_BK_DEPR table stores data for optional books 2-10, as used. Although there is no interface with the G/L for these books, each "posting" process for depreciation expense increments or decrements the current period depreciation expense amount that displays in the Other Books Info subtask of the Maintain Asset Master Info screen.
For a reverse posting, the system updates these fields appropriately.
For "DISP" type entries posted from the Posted Fixed Assets Journal screen, the system disables the OK pushbutton in the G/L Book Info subtask, the Disposal Info subtask, and the Other Books Info subtasks of the Maintain Asset Master Info screen. As a result, although you can view data in these subtasks, you cannot save any changes.
For a reverse posting, the system renders these fields/screens available for edits.
For a "DADJ" type entry associated with a "DISP" type posted entry), the system writes no data to this table.
This table contains the disposal information manually entered in the Maintain Single or Multiple Disposal Transactions screens or created by the Create Multiple Disposal Transactions process. This table supplies data used during posting, such as the gain/loss account/org/proj/ref1/ref2 data, as well as specific disposal data (such as the date, type, description), which will be written to and stored in the ASSET table during the posting process.
Although it appears as if the system deletes this data as part of the posting process because none of it is visible in the Maintain Single or Multiple Disposal Transactions screens after posting, the system does not delete this data until you perform the Close Fixed Assets Acctng Pd process.
For a reverse posting, the original data in the Maintain Single or Multiple Disposal Transactions screens is restored. The system stores this data in a temporary table in order to re-create it in the event of a reverse posting. The system does not delete this data until you perform the Close Fixed Assets Acctng Pd process.
For "DEPR" and "DADJ" type posted entries, the system writes data directly to the Open Billing Detail table if specific conditions are met at time of posting, as follows:
If the account to which depreciation will be posted has been associated with a Project Account Group that has been assigned a Labor or Non-Labor function;
(Although a labor account would be considered inappropriate for charging depreciation expense, note that there are no Fixed Assets rules regarding the types of accounts to which deprecation can be posted.)
If the project to which depreciation will be posted has been set up as a billable project in the Project Billing Master at that project level or higher; and
If the Proj Billing Info record is transaction-based.
Please refer to the documentation for the Maintain Open Billing Detail screen in the Billing module for more detailed information.
For a reverse posting, the OPEN_BILLING_DETL table General Ledger Detail table is used in the same manner.