Let us for example take a look at the fixed asset for which you posted impairment to impairment accounts on August 31st, 2007. Moreover, it was partially depreciated. After having performed depreciation calculation on October 31st, 2007, use Disposal of Fixed Assets to post the asset and reversed impairment.

Here the same procedure is performed like when disposing of fixed asset just without reversal of upward revaluation or impairment.

Automatic Calculation, Input and Posting

The most recent impairment (type 5) or its depreciation (type 23) is located and the values are automatically entered in the next line of reversal of impairment (type 8). Simultaneously, posting of disposal is recorded in line (type 6).

Automatically Created Journal Entry for Posting Diposal of Fixed Assets and Reversal of Impairment

Inventory number of fixed asset and entry type from the Fixed Assets register can be found in note of journal entry.

Set accounts in the Fixed Assets register and perform the same procedure when disposing of fixed assets (type 6) and reversing upward revaluation (type 7).