How do you fix depreciation on an asset with a returned component

AI generated answer (using internal Slack threads):

To fix depreciation on an asset with a returned component, you would need to adjust the depreciation schedule for the asset. Here are the steps you could follow: 1. Identify the asset in your Fixed Asset Management (FAM) system. 2. Determine the date the component was returned and the value of the component. 3. Adjust the depreciation schedule for the asset to reflect the return of the component. This could involve reducing the depreciation expense for the period in which the component was returned and adjusting future depreciation expenses accordingly. 4. If you have deleted some Depreciation History, you may want to upload it again. This can be done through the FAM system. 5. Ensure that the total depreciation for the asset does not exceed its cost less any residual value. Remember, it's important to keep accurate records of all asset movements and adjustments to ensure your financial statements are accurate. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******