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I have a customer who started to use fixed assets last year. They originally had 12 periods. They changed their fiscal periods to be 13 to allow for one audit adjustment period. Fixed Assets is still at 12. However - when they ran depreciation for January, they got an additioanl entry for december. I am not sure what I need to do to resolve this, any ideas????
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Hi Melissa,
Thanks for the advice. The Save Yearly Depreciation Rate field is information only and shows the yearly depreciation rate of the year. After the FA Year End is rolled this information would be the previous years annual depreciation rate.
If this information seems out, but the actual depreciation amounts are correct, I would not worry to much about it as it is informational only.
Regards
Rob
Thanks Rob - but the periods were already accurate in fixed Assets. However Idid find something after more digging. The amount they were referring to is the same amount that is written to the Saved Yearly depreciation field. not something that I have everly looked at before nor was is easy to find. Also this entry was a debit and credit to the same account. So is this field something that is just written to since they had run their first depreciation in the new year? just wnat to make sure I explain it properly - but it looks to me to simply be a place holder.
Thanks!
Hi Melissa,
Thanks for raising this with us; to correct this you will need to recreate the FA calendar. This will align the FA calendar to the GP calendar. After this if you then reset life on all the assets so that they align the depreciation amounts with the recreated FA calendar.
Please follow the steps noted in the KB to recreate the FA calendar and Synchronise Quarters if quarters are used:
support.microsoft.com/.../EN-US
Next you can follow these steps to reset life on all assets:
1. Create an asset group to group all your assets:
a. Open the Select Assets window (Transactions - Fixed Assets - Select Assets).
b. Make sure that the From Asset ID and To Asset ID range is set. This range needs to include all assets
c. To create and build a new group, choose New Group, enter a name to describe the asset group and choose OK.
c. Select the newly created group in the Current Group window then choose the Mark button so all assets are marked then choose OK to save the changes.
2. Run 'Mass Change' on your assets:
a. Go to Transactions - Fixed Assets - Mass Change.
b. Select the Asset Group ID you have just created.
c. Click on the 'Book' tab.
d. Select the 'Book ID' where you want the changes to take effect on.
e. Select the 'Asset Class ID'.
f. Select 'Reset Life'
g. Click on 'Apply Changes'
After this the depreciation amounts for all the assets should now align with the new FA Calendar. I suggest that you run this procedure in test first and verify the results before running in the live company.
Regards
Rob
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Almas Mahfooz
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