Revert a CIP asset capitalization—Fixed Assets Management

If you capitalize an asset by mistake, you can revert the capitalization. This lets you make corrections such as changing the capitalization date or adding additional costs.

Reverting an asset capitalization does the following:

  • Deletes the related capitalization journal entry.

  • Clears the capitalization date.

  • Changes the asset's state to Construction in progress.

  • Allows additional costs to be added.

Before you begin

Verify the following:

  • The asset is in the Ready for review state.

  • The asset is active.

Revert a capitalization

Subscription Fixed Assets Management
Regional availability

All regions

User type Business
Permissions

Fixed Assets Management

  • Asset: List, View, Edit
Configuration

  • Construction in Progress (CIP) must be enabled in Fixed Assets Management Configuration.

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

  2. Find the CIP 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 capitalization.

  5. Select Revert to confirm.