Asset sold and purchased back

Question

Hi Gurus,
I wanted to find out how other companies handle this situation. We have an asset that was sold last year and it was purchased back this year. From what I understand from the user, is they wanted to see the history and total accumulated depreciation in AW01N (before the asset was sold and after it was purchased back) since it is the same asset.
It will be recorded at the NBV at the time of purchase (APC less accumulated depreciation as if we owned the asset).
For example, APC = $3000, asset life is 3 years. Asset sold after 1 year (NBV = $2000). Asset purchased on second year (NBV = $1000).  So we want to post using Gross method, showing asset value of $3000  and an accumulated depreciation of $2000. The remaining life should be 1 year.
Is there a transaction in ABSO to do this? Do we put it back to the same asset number and remove the deactivation date? Will the monthly depreciation be the same?
Thanks,
Arnold

Answer 1

Hi,
Since you have sold your asset in last year, then now it should be treated as a new asset purchase as per the best practises.
1) Create a sub asset number under your old main asset master and post the F-90 with the amount, which need to be paid back to your customer. Then you can have the history against the main asset atleast
2) Or else, if you want to re-initiate your old asset master, try to reverse your sale entry with current date using AB08. In this case, i am assuming that you have to return the same amount of money, which you have taken from your customer last year when selling your asset. 
I am not sure about the 2nd case, whether it is advisable or not.
Regards,
Srinu