Re: Rectification for asset acquired thru manual JV

Hi Jyots Tai,

Jai Maharashtra!!! ;-)

1. Asset you acquired in 2012 for 500000

2. Dep  in 2012 would be 37500 and in 2013 would be 50000

3. Solution approach as below

a. Create asset As01

b. Do post capitalization from Abnan

c. Value date in abnan should be 01.04.2012, doc date and posting date can be today's date

d. System will generate accounting entry as

Asset APC Dr. 500000

Accum dep  Cr. 87500

Revenue from post capitalization Car. 412500

e. Reverse earlier JV as below

Revenue from post capitalization Dr. 412500

Accum dep  posted manually Dr. 87500

Asset APC postd manually Cr. 50000

f. Run afab from2014 as usual

I handled this case very recently

In e use the same GL accounts you used earlier for manual postings

Br. Ajay M