To Reverse an Asset

You use the Fixed Assets (FA303000) form to annul a fixed asset in MYOB Advanced by using the reverse procedure.

To Reverse a Fixed Asset

1. Open the Fixed Assets (FA303000) form.
2. In the Asset ID box of the summary area, select the asset you need to reverse.
   Note: You can reverse an asset with the Active status only.
3. On the More menu (under Corrections), click Reverse.
   The asset is reversed; reversal transactions are generated for all released transactions associated with this fixed asset and posted to the same book as the original transactions.

   Note: In the posting book, if the financial period of the original fixed asset transactions is already closed, the reversal transactions will be posted to the nearest open financial period.
4. Release the resulting transactions as dictated by your company workflow. For more information, see To Release Fixed Asset Transactions.