Why Is There No Journal Entry Created for Entered Accumulated Depreciation / Reserve at Addition? (Doc ID 1278920.1)

Last updated on FEBRUARY 01, 2024

Applies to:

Goal

A backdated asset was created with reserve entered at addition (reserve primed by user).  There is no journal entry created for the reserve.  Why is no journal entry created for the entered accumulated depreciation?

Notes

a.  Back-dated is when the DPIS (date placed in service) is any date prior to the current open period

b.  Reminder that primed values (YTD and Reserve) are not validated.  What user keys is accepted regardless of accuracy as it is assumed to be the current GL balance.

Solution

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