Revert placing an asset in service—Fixed Assets Management

If you place an asset in service by mistake, you can revert placing it in service.

Reverting place in service does the following:

  • Deletes the asset's depreciation schedules. Only schedules with no posted entries can be deleted.

  • Removes the asset's in-service date.

  • Changes the asset's state to Ready for review.

To revert placing multiple assets in service at once, see Revert placing assets in service in bulk.

Before you begin

Verify the following:

  • The asset's state is In service.

  • The asset is active.

  • The asset does not have any posted depreciation, transfers, or partial disposals.

  • The asset was not created from a split.

Revert place in service

Subscription Fixed Assets Management
Regional availability

All regions

User type Business
Permissions

Fixed Assets Management

  • Asset: List, View, Edit
Configuration

Correction treatment must be set to Revert in Fixed Assets Management configuration.
  1. Go to Fixed Assets Management > All > Assets.

  2. Find the asset that you want to revert.

  3. Select the asset's name to view it.

  4. At the top-right of the page, select More actions > Revert place in service.

  5. Select Revert place in service to confirm.