rajanbadrinath
09-01-2007, 03:24 AM
Dear Team,
I need a help with respect to Peach Tree Fixed Accounting. Let me explain the situation, where we capitalised couple of fixed assets say during Dec'06 and during the audit, the Auditors want to reverse part of Fixed Assets (there are two components in Fixed Asset and one component is required to be capitalized and other is required to charged to P&L A/c. But by mistake we have capitlalized entire component and we have taken to Balancesheet).
Auditors has given the note to reverse the part of fixed assets and part of depreciation for the wrong capitalization.
How to give effect in peach tree (fixed asset)?
If i make correction in Fixed Asset, whether it will allow me to do correction? The entries have been posted till date.
Please let me know.
I need a help with respect to Peach Tree Fixed Accounting. Let me explain the situation, where we capitalised couple of fixed assets say during Dec'06 and during the audit, the Auditors want to reverse part of Fixed Assets (there are two components in Fixed Asset and one component is required to be capitalized and other is required to charged to P&L A/c. But by mistake we have capitlalized entire component and we have taken to Balancesheet).
Auditors has given the note to reverse the part of fixed assets and part of depreciation for the wrong capitalization.
How to give effect in peach tree (fixed asset)?
If i make correction in Fixed Asset, whether it will allow me to do correction? The entries have been posted till date.
Please let me know.