Hi @Dolly ,

Object Status is the registered status is set by default when the information is saved for a new object. For an existing object.
As per the definition of object status ‘Replaced’ -Object is replaced by a new object from the Object window. The Right-of-use object type gets replaced when the lease contract is terminated through Acquire Lease Asset.

As a result of this activity,

• A new object is created and the old object receives the status Replaced.
• The new object will have the same calculation index as the old object. The calculation index of the new object can be modified or removed altogether.
• A voucher is also created and transferred to the hold table in IFS/Accounting Rules.

Hope this helps.

Best Regards,
Roshan

Thank you, @Roshan Madusanka .

A follow-up question, in a situation which we need to use again the old object, can we still be used it?

@Dolly  I did not fully understand, what you meant by “use again”?  However, the Replacement should be possible to Roll Back. This is what the documentation explains around the replacement activity. 

Replace Object

Replacing an object involves inactivating an existing object and transferring it's balances to a new object.

In order to replace an object, it's status must be Active and it must be be fully depreciated up to the replace date. You will be required to specify an ID and a description for the new object when you carry out this operation. Once the operation is carried out, a voucher will be created in the hold table(s) of the respective ledger(s) to post the acquisition value, acquisition value adjustments per book and the accumulated depreciation transferred.

When an object is replaced, it's status will be Replaced. The new object will be created with the status Active, and the general information (like object group and acquisition account), information relating to books, and inventory information will be copied from the original object to the new object.

It is not possible to depreciate, split move, or dispose an object that has been replaced. It will also not be possible to include a replaced object in a physical count. A replaced object can be included in a depreciation plan only if it has been included in a posted depreciation proposal that covers the same period range for which the depreciation plan is created.

Once an object has been replaced, it is possible to roll back the replacement. As a result, the following would take place.

• The status of the replaced object will change to Active.
• The acquisition balance, adjustments per book and the accumulated depreciation of the new object will be zero.
• The status of the new object will change to Investment. ----------------------------------------

I hope this would help.

How do you know the equipment has been depreciated @Mayura Wasantha ?  Is there new depreciation functionality I don’t know about?  I thought the equipment was just tied to the ledger through the FA field.

Hello Jerry, there is no new functionality or an integrated way to know that. At least nothing new has been placed yet. You are right of the FA field connection.