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Administrator Guide
Last Updated: 2024-06-28
Cancel Depreciation Transactions

Cancel Depreciation Transactions

When you record depreciation on assets with the
Record Depreciation Amortization Expense
 task, Workday creates multiple depreciation transactions that group depreciation expenses for multiple assets with the same:
  • Company.
  • Ledger period.
  • Spend category.
You can cancel depreciation transactions as long as you haven't:
  • Closed the period or started closing the period.
  • Disposed of any of the assets.
  • Recorded subsequent depreciation on any of the assets.
You can't cancel depreciation or depreciation adjustments that Workday posts automatically when you perform lifecycle events on assets such as transfers, reclassifications, or disposals.
You can’t cancel depreciation transactions when you select the
Always Reverse Operational and Noncontrolling Interest Journals
 check box in the
Journal Options
 section on the
Edit Tenant Setup - Financials
 task.
  1. Access the
    Process Monitor
     report.
    You can filter by:
    • Process Type
       as
      Job
      .
    • Process
       as
      Record Depreciation Amortization Expense
      .
  2. From the
    Request
     column in the
    Background Processes
     grid, access the request with depreciation transactions to cancel.
  3. (Optional) Drill down on depreciation transaction details from the
    Count
     column in the
    Depreciation Expense Details
     grid on the
    View Background Process
     task.
  4. From the related actions menu on each depreciation transaction to cancel, select
    Depreciation Transaction
    Cancel
    .
    When canceling depreciation transactions for multiple periods, start with the latest period.
    You can also access depreciation transactions from the
    Status
     column on the
    Depreciation Detail
     tab of assets.
When there are no errors, Workday cancels the depreciation expenses posted for all assets in the depreciation transaction.
When there are errors, Workday doesn't cancel any depreciation expense.
To correct depreciation posted in the wrong period due to an erroneous posting date, you:
  • Locate all depreciation transactions associated with the request.
  • Cancel them individually.
  • Run the
    Record Depreciation Amortization Expense
     task again with the correct posting date.