Create an Impairment Reversal

This example demonstrates how to create an impairment reversal transaction for a single asset.

Create an Impairment Reversal Transaction for a Single Asset

1. Navigate to the Impair Assets page.

2. Click the Create icon.

3. Select the book and click Next

4. Enter your login information and open the Create Impairment spreadsheet.

5. In the Create Impairment spreadsheet, select Impairment reversal in the Impairment Type field.

6. Enter a transaction group name and the impairment date.

7. In the Impairment Status column, select Preview.

8. Enter the net selling price or the value in use, or you can enter both values.

9. Click Submit on the Manage Impairment tab.

Verify an Impairment Reversal Transaction

1. Navigate to Scheduled Processes page, and verify that the Process Impairments process has completed successfully.

2. On the Impair Assets page, search for your impairment reversal transaction. The status changes to Previewed.

3. Verify that the calculated reversal amount of the impairment loss appears in the Impairment Loss column.

4. Select the impairment row and click Post to post the impairment only to the selected row, or click Actions and Post Batch to post the impairment to all assets in the transaction group.

5. On the Scheduled Processes page, verify that the Process Impairments process has completed successfully.

6. On the Assets page Run Create Accounting for the book.

7. Navigate to the Asset Inquiry page, and verify that the impairment reversal transaction appears and that the corresponding accounting entry was created.