# How to adjust fixed asset values in a prior financial year

KB265

### Overview

Any adjustments to fixed assets in a prior financial year should be avoided if possible. No adjustments should be made to any assets that have already had adjustments in the current financial year.

If the adjustments are necessary, then they can be done but you may need additional support from the Accentis support team.

### Process

#### 1. Reverse depreciation in LIVE database

1. In your current LIVE database, navigate to the Fixed assets form (Fixed Assets > Fixed Assets...) and fetch the asset the requires adjusting.
2. On the Asset transactions tab, select the Remove multiple…button.
3. Enter the date you want the depreciation removed back to and click OK. If you want the full financial year removed enter "sfy".
4. On the pop-up that appears, confirm that the date is correct and select Yes.
5. The depreciation will now be removed. Repeat this process for any other assets that require adjusting.

#### 2. Reverse depreciation in prior year database

1. Log into your prior year database and navigate to the Permissions form (System > Users > Permissions...)
2. Re-add your permissions to the General ledger, Fixed assets, and System function groups.
3. Navigate to the Fixed assets form (Fixed Assets > Fixed Assets...) and fetch the asset the requires adjusting.
4. Enter the date you want the depreciation removed back to and click OK. If you want the full financial year removed enter "sfy".
5. On the pop-up that appears, confirm that the date is correct and select Yes.
6. The depreciation will now be removed. Repeat this process for any other assets that require adjusting.

#### 3. Adjust assets

1. In the prior year database, edit the assets and adjust as needed.

#### 4. Reprocess deprecation in prior year database

1. In the prior year database, navigate to the Multiple asset transactions form (Fixed assets > Multiple asset transactions...).
2. Click Select Assets…and select all the assets that you have adjusted.
3. Click Perform Transactions…and reprocess the depreciation for those assets.
   1. When entering the date for the depreciation, you can choose to depreciate how you want (for example, in one bulk depreciation, or in monthly intervals).
4. Select Update to complete the depreciation.

#### 5. Update asset transactions and values in LIVE database

1. Log back into your LIVE database and run the TRANSFER Asset values and transactions from prior year command (Fixed assets > Command > TRANSFER Asset values and transactions from prior year).
2. Enter the Asset code for the adjusted asset (or enter an asterisk to transfer all assets) and select Run.
3. Run the TRANSFER prior year balances command (General ledger > Setup > TRANSFER prior year balances...) with both tick boxes selected.

#### 6. Reprocess depreciation in LIVE database

1. In the LIVE database, navigate to the Multiple asset transactions form (Fixed assets > Multiple asset transactions...).
2. Click Select Assets…and select all the assets that you have adjusted.
3. Click Perform Transactions…and reprocess the depreciation for those assets.
   1. When entering the date for the depreciation, you can choose to depreciate how you want (for example, in one bulk depreciation, or in monthly intervals).
4. Select Update to complete the depreciation.

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Last edit: 07/07/2026