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my question is related to Fixed Asset Module,
i have an asset(Equipment) with a NBV of around 6000 Dhs (the asset life was 10 years) and its fully depreciation and we are not running depreciation for this particular asset.
Now we have made some addition to this particular asset to increase the efficiency of this asset for 3 years. but how to setup the value model to run the depreciation.
Please ensure that the value model has a status of open and that the remaining depreciation periods for this fixed asset are set to 3 years or 36 months.
Then you should be able to run the depreciation for this asset.
hello Mr. Luddwig,
thanks for your prompt reply,
after change the value model, will it effect the depreciation whatever has been run previously.
The previously posted depreciation should not be affected because your asset has already been fully depreciated and a NBV of $0.
What will happen is that the new NBV that resulted from the addition - lets assume $36000 - will be depreciated over the next three years, i.e. the remaining depreciation periods. That is, every month $1000 will be depreciated for the next 36 months.
Note: When testing this please make sure that the depr. method straight life remaining is setup.
actually there is NBV of AED 6,000 still remain. so if, we run the depreciation for the addition will it calculate including the previous NBV of AED 6,000 also?
thanks & regards
If the previous NBV has not been depreciated in full and remains it will also be part of the depreciation that will be run.
If you don't like this then setup a sales value/remaining value of this value in your value model and only the new addition will be depreciated.
Yes. ,many many thanks & regards
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