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Reversing an asset disposal

If you have accidentally disposed of an asset that was not sold, or entered the disposal details incorrectly, you can reverse the transaction and start over.

First, you need to find the Journal ID for the disposal transaction.  Pro or Premium users can search via the Centralised Transaction Screen.

Alternatively, users can go to the INCOME tab and locate the disposal transaction under either Loss on Sale or Gain on Sale (depending whether or not the disposal yielded a profit).

Click on the Journal ID to open the transaction. Mclowd will display the Reverse Transaction screen.

Click the REVERSE button at bottom left to delete the transaction. You can now re-enter with correct details if desired.

Note:  The ability to update rather than delete and re-enter and the ability to reverse all parcels in a multiple parcel disposal are part of work in progress priorities. In the interim, you will need to reverse the created journal for each parcel disposal and re-enter as required.