Dynamics Community Forum Thread Details

Forget to Add a Fixed Asset before running depreciation.

Hello All,

I am new to Dynamics GP and I would appreciate if anyone could help in solving the issue below.

I have completed the depreciation of all fixed assets for the month of May 2016 the normal way. I later realized that the company bought few assets (4 assets) during the same month. However, these assets has not yet been added to GP. Also, depreciation for June 2016 has not been done.

I am thinking of doing the following:

Adding these assets to the Fixed Asset General Information window to the month they were bought, i.e. May 2016.
Do a GL posting to add the assets concerned for the same month.
Depreciate the assets individually for May 2016 (since they are only 4 assets and depreciation for all other assets has been done already for that month).
Do a GL posting to post the depreciation entries for the 4 assets for May 2016.

I am concerned with the last step (step 4). I am wondering whether doing step 4 will double post depreciation or whether it will cause unintended effects.

Is the above method appropriate or is there a better option? Please help.

I am using Dynamics GP 10.0.

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