Fixed Asset Issue

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Posted on by Jozy

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Hello Community,

Hope all healthy!

Actually I am depreciating one asset but it is showing 10 times more then the other months. You can see below snap.

Thanks in Advance

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Microsoft Dynamics GP

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Andrea Melroe 3,437 on at

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Hi Jozy,

This is Andrea, and I will assist with your question today.

I’ve seen this issue crop up when users update the ‘current fiscal year’ in the FA40200 on the backend to allow depreciation in a ‘new’ year without closing the ‘current’ FA year. Here’s more detail around what I think happened:

At the end of your last FA year in Fixed Assets, the user did not close the FA year.

Instead, he/she flipped the ‘Current Fiscal Year’ forward to the ‘next’ year for the CORPORATE book on backend (you should not do this) and depreciated without having closed the previous year.

Then, after depreciating 10 periods in the ‘new’ year, the user flipped the ‘Current Fiscal Year’ back to the previous year and performed the FA year end closing at that time.

Here’s what happened when the user depreciated for those 10 periods in the ‘new’ year prior to closing the previous year:

The YTD depreciation field in the Asset Book window was increased by the appropriate amount of depreciation each time the user depreciated (2083.36 * 10 = 2083.60 – almost the exact amount of overstated depreciation).

Here’s what happened when the user flipped the year back to the previous year and closed the year:

The YTD depreciation field in the Asset Book window was zeroed out – this happens as part of the year end close process.

As such, the following occurred:

All assets show correct periodic depreciation amounts in the Financial Detail Inquiry window.

However, the YTD depreciation field in the Asset Book window became understated by 10 periods worth of depreciation.

When asset C10181 got to the last period in the new year: GP looked at the YTD depreciation field and saw that the total YTD depreciation was not equal to the ‘Yearly Depreciation Rate’ for the asset. As such, GP made up for the understated depreciation in that last period.

I talk about this scenario in our Fixed Assets Year End Blog:

https://community.dynamics.com/gp/b/dynamicsgp/archive/2018/11/27/microsoft-dynamics-gp-year-end-update-2018-fixed-assets

To fix this problem you’ll need to test doing a ‘Reset the Year’ on all affected assets – I recommend doing this in a Test Company with a copy of live data:

Click Transactions, point to Fixed Assets, click Select Assets, and then click New Group.

Name the group, and then click OK.

Under Current Groups, click the newly created asset group, click to select the assets (all assets) for which you want to reset the year, and then click OK.

Click Transactions, point to Fixed Assets, and then click Mass Change.

Select the newly created asset group ID, click the Book tab, select the book ID, select Reset Year, and then click Apply Changes.

In the following message, click OK: Are you sure you want to apply changes to group (New_Group_Name)

Close the window.

Verify depreciation amounts, YTD, LTD, NBV amounts are now accurate.

I hope this helps!

Andrea Melroe | Microsoft Dynamics GP

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Jozy 393 on at

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Thank you Andrea.,:)

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Jozy 393 on at

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Hi Andrea,

There is one thing is left can you please guide me some assets still showing the depreciation rate is not correctly it is showing 15% which was our last rate. Snap is attached.

Correct Number should be is ( 8.038.59 )

Thanks.

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