Implementing Cloud Financials: From Empty Pod to Go-Live · Module 11 · Fixed Assets
Adjustments, transfers, retirements
Lesson 111 of 153 · 12 min
A cost adjustment on an existing asset, with the depreciation recalculation shown. A life adjustment, with its effect on future periods. A transfer between cost centres, with the expense account changing in front of you. A full retirement with proceeds, showing the gain or loss calculation and the journal. Then a partial retirement, and a reinstatement. Read the gain and loss journal aloud. It is the least intuitive accounting in the module, and reading it once is worth more than describing it three times. Retirements are commonly done late or not at all, and the register fills with assets that were scrapped years ago. Recommend an annual physical verification process — it is the only thing that catches this, and no report will. Reinstatement exists because retirements get done in error. Show it, so learners know it is recoverable rather than discovering that under pressure.
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Cloud Financials: From Empty Pod to Go-Live, with a certificate on completion and a fourteen-day refund window.
In this module: Module 11 · Fixed Assets
- 1The asset model
- 2The three flexfields
- 3Asset books
- 4Categories and depreciation rules
- 5Adding assets manually
- 6Mass additions from PayablesFree preview
- 7Adjustments, transfers, retirements
- 8Depreciation, close and what breaks
- 9Lab: assets end to end