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How can delete an Asset transaction
On my client one of user has mistakenly created an Asset in CIP and now we want to remove to delete this transaction from system, which will have reverse accounting impact of that CIP addition accounting.
Plz suggest me how can we delete it without any affect.

Thanks given by:
If asset is not coming from AP, adjust the asset cost to zero and retire the asset.
You can also follow My Oracle support note to get more help on this:
  • Cannot Delete an Asset in the Period of Addition (Doc ID 1016595.102)
  • How to Delete an Asset that has been Depreciated? (Doc ID 181575.1)
  • How to Cancel/Retire an Asset Without Recognizing Gain or Loss on Net Book Value? (Doc ID 163160.1)
Thanks given by:
Hi Mr. Ali,

Your query lies out of the standard solutions becasue you dont want to reverse the wrong financial impact along with the necessary correction, means you want to keep the finnacial balance as it is even after the deletion of the wrong transaction. Such things require completly a custom approach, oracle standard solutions will always provide the dual impact.
Thanks given by:

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