Above are the existing info of Asset No.1018 before
Retirement
Retirement mistakenly at 22-Feb-2015 instead of
22-Jan-2015, but after saving the record User did not Run Depreciation and
Accounting Program
Disposed Asset No.1018 on wrong date info…
RESOLUTION:-
1. Go to Asset Workbench window and Query the Asset No.1018
2. Click on Retirements button
3. On Retirements window press Ctrl+F11
to find out the existing retirement
4. Click Undo Retirement button
5. Click Ok
6. Now Re-enter the retirement with the
correct retired date and save the record
Run Depreciation Program
Run Accounting Program
Unallocated-COMPUTER
SOFTWARES-Unspecified-Unspecified-Unspecified-Unspecified - Debit
Unallocated-PLANT BETTERMENT||PLANT
&-Unspecified-Unspecified-Unspecified-Unspecified Debit
Unallocated-ACCUMULATED DEPRECIATION|-Unspecified-Unspecified-Unspecified-Unspecified
- Credit
CAPEX asset retirement obligation planning is a vital process that helps organizations prepare for the future costs associated with retiring or disposing of long-lived assets. By identifying assets with retirement obligations, estimating the associated costs, developing a funding plan, and complying with financial reporting requirements, organizations can effectively manage the financial and environmental risks associated with asset retirement. Proper planning ensures that the necessary funds are available when needed and supports responsible and sustainable business practices.
ReplyDeleteVizio’s asset retirement obligation (ARO) evaluations provide businesses with precise, data-driven insights into their ARO liabilities.
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