# Void Asset Transaction

### **Module Guide: Void Asset Transaction**

#### **Module Location**

#### Fixed Asset > Void Asset Transaction

#### **Module Objective**

#### The **Void Asset Transaction** module serves as a correction tool to **void** an asset lifecycle transaction (such as a sale or write-off) that has been incorrectly recorded in the **Asset Transaction** module. This process does not delete the data, but rather creates a **reversing journal** to neutralize the accounting impact of the original transaction and maintain the integrity of the **audit trail**.

### **1. Main View (Transaction List)**

#### The main page of this module displays a list of active asset transactions that can be voided.

#### **View Explanation & Filters**

#### This page is for finding and selecting the transaction to be voided.

- #### **Filters**: You can search for a specific transaction by **Document Number**, a **Date** range, or **Transaction Type** (e.g., DisposalAsset).
- #### **Transaction List**: The table below will display all transactions that match the filters, which are ready to be voided.

#### **Button Functions**

- #### **\[Void\]**: The main action button to run the voiding process on a selected transaction.

### **2. Steps to Void an Asset Transaction**

1. #### **Find the Transaction**: Use the available filters to find the asset transaction you wish to void.
2. #### **Select the Transaction**: Select the transaction to be voided by checking the box in the leftmost column of the corresponding row.
3. #### **Run the Voiding Process**: Click the **\[Void\]** button in the bottom-left section of the page. The system will likely ask for your confirmation before proceeding with the voiding process.

### **3. Process Results**

#### After a transaction is voided, the system will:

1. #### Automatically create a **reversing journal** to neutralize the accounting impact of the original transaction.
2. #### **Reactivate** the asset that was previously deactivated (for example, because it was sold) in the asset register.

### **Tips & Important Notes**

- #### The "Void" process does not delete data; this is the correct accounting practice for correcting errors.
- #### Ensure you have sufficient authorization before voiding a transaction, as this action will affect the asset records and the General Ledger.
- #### This module is an important control tool for the **Fixed Asset Accountant** to ensure data accuracy.