Reverse Line Items
Functional Area: Asset Accounting / Reverse Line Items
Purpose
Use this transaction to reverse line items.
Trigger
Perform this procedure when an asset was capitalized or expensed by mistake or a value was posted incorrectly to an asset. As soon as the error is discovered the AB08 transaction would be processed and then the AB02 would also be processed to document the reason for the reversal.
Prerequisites
The asset must have had a financial transaction posted to it.
Menu Path
Use the following menu path to begin this transaction:
- Select AccountingFinancial AccountingFixed AssetsPostingReverse DocumentAB08 – Other Asset Document to go to the Documents for Assets screen.
AB08
Business Process Information
Upon reviewing the asset master record in detail, it was discovered that the wrong asset class was chosen and accounting transactions have already been posted or a value was posted to an asset in error. This review would include looking at the value of the asset as compared to the quantity as compared to the asset class.
Use this procedure to reverse a line item of an asset that was posted in error:
- The asset was initially capitalized and should have been expensed. (i.e. the wrong asset class was chosen)
- The asset was initially expensed and should have been capitalized. (i.e. the wrong asset class was chosen)
- The asset had a value posted to it in error (i.e. a write-up was posted to the wrong asset.
In order to document the reason for the reversal, transaction AB02 would also be required.
Asset Management would process these transactions.
Helpful Hints
- The R/O/C column in the field description tables below defines whether the field is required (R), optional (O), or conditional (C).
- On certain screens you may have to scroll to view some data entry fields.
- Make sure to document the reason for the reversal by processing transaction AB02.
Work Instruction
Functional Area: Asset Accounting / Reverse Line Items
Procedure
1. / Start the transaction using the menu path or transaction code.
Documents for Asset
2. / As required, complete/review the following fields:
Field / R/O/C / Description
Asset / Required / The asset number internally assigned by SAP to track the asset
Example:
21000019
Sub-number / Required / Number used to track funding sources of an asset
Example:
0
FiscaI Year / Required / Period, 12 months as a rule, for which the company is to create its inventory and balance sheet; The fiscal year can be the same as the calendar year, but does not have to be
Example:
2005
3. / Click .
Overview of Asset Accounting Documents
4. / Click to the left of the line item you want to reverse.
5. / Click .
Specifications for reversal posting
6. / As required, complete/review the following fields:
Field / R/O/C / Description
Posting Date / Required / The date on which a transaction in SAP will be posted to the appropriate accounts; SAP will default this field to be the current date, but changes are allowed; For items to be posted in a future or past period, you must enter the posting date
Example:
10/22/2004
Period / Required / Unit that subdivides a fiscal year
Example:
04
Reversal reason / Required / The reason that an entry is reversed
Example:
01
7. / Click in the Reversal reason field.
8. / Click .
Reason for Reversal (X) X Entries Found
9. / Double-click .
/ This field is used as information as to why a reversal was necessary.
Specifications for reversal posting
10. / Click .
Overview of Asset Accounting Documents
11. / Click .
Information
12. / Click .
/ The system displays the message, "Asset transaction posted with document no. UC XXXX."
13. / Click until you return to the SAP Easy Access screen.
14. / You have completed this transaction.
9/18/2017
Ver: / AA_AB08_ReverseLineItems_0_FinancialProcessorAssets.udc
© University of Cincinnati / 1/9
Work Instruction
Functional Area: Asset Accounting / Reverse Line Items
Result
You have reversed the selected line item.
Comments
A reversal can only be made in a prior/future period if that period is open.
9/18/2017
Ver: / AA_AB08_ReverseLineItems_0_FinancialProcessorAssets.udc
© University of Cincinnati / 1/9