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Fixed Assets....IF YTD is entered then ...............

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Posted on by zulfi721

As per Fixed asset manual page 44.......

IF you enter Year to date (YTD) amount then following entries also must be made

1-Enter a depreciated to date the same as or later than the place in service date

2-Enter a life to date (LTD) depreciation amount the same as or greater than the year to date depreciation amount......

I Need explanation with example........

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Mahmoud Saadi 32,738 on at

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RE: Fixed Assets....IF YTD is entered then ...............

Lets take the standard case, when you purchase a fixed asset and add it to the system, YTD and LTD depreciation amounts are zero (because you simply have not started depreciating the asset yet). In this case, the place is service date (for instance 1/1/2015) is the same as the depreciation to date (1/1/2015)

Although, that is not always the case. Suppose that you just configured Dynamics GP and you are entering Fixed assets from the old systems, these assets have definitely been depreciated on a routine bases, that means the YTD and LTD amounts are not necessarily zero. Lets take this example:

Suppose that you are entering opening balances at the 1st of Feb, 2015. You have an asset that was bought 1/1/2014, at cost $2000, monthly depreciation is $100. When you enter this asset into Dynamics GP, you will have to enter the values:

1- YTD = 100 (since it is 1st of Feb, the asset is depreciated for one full month, January 2015)

2- LTD = 1300 [ 100 (January 2015 amount) + 1200 ( 12 months of 2014, $100 for each month) ]

3- Acquisition Date = 1/1/2014

4- Place in Service = 1/1/2014

5- Depreciated to date = 1/2/2015 (since you have YTD amount, you must enter a depreciated to date)

The above means, when you enter a YTD amount, you should have both values entered (LTD and depreciated to date). For the example above, the LTD should be at least 100 (equal the YTD) or more. Same for depreciated to date, should be at least (1/1/2014) or above.

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zulfi721 on at

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RE: Fixed Assets....IF YTD is entered then ...............

Thx Mahmoud

For the detailed answer......

Thanks for clearing the doubts in mind regarding the asset book

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