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Correcting Erroneous Depreciation Form

Correcting Erroneous Depreciation Form

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looking at the net tracker Book value and the external Book value I have a difference of thirty thousand this is because an asset has been added in error the asset in question is a motor vehicle with a purchase cost of thirty thousand so far this year depreciation has been provided for 7098 but it's not actually been required it's not a problem let's see what happens when we use the tools selecting the option to delete net tracker is checking to see if any depreciation journals have been processed in the current year or in a previous Financial year this particular asset was purchased in the current year so there is only current year depreciation the depreciation is not required so I'm going to select the option to reverse and I can select the date that I wish the depreciation to be reversed which is going to be 30th of September that will create the necessary Journal adjustment I need to ensure my balance sheet and my fixed asset register are in line I c

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