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ReportPlease review this screenshot and notice the negative depreciation. How is this possible
?
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Please review this screenshot and notice the negative depreciation. How is this possible
?
*This post is locked for comments
Donnette is correct. If you reset the year on the asset and depreciate through the current month end, GP should book the entry correctly (net).
Looking only at the screen shot it would appear that the the asset was placed in service 6/19 and was depreciated for 1 month of a 16 month life. Then, when reset, backed out the current depreciation because the Averaging Convention is set to "Next Month".
Reset Year on the asset.
I do have negative depreciation listed on the "asset's book" screen, but the depreciation expense for that month was a positive and then a negative, net/net zero effect on the P&L. However, the YTD deprectiation on the asset screen still shows negative depreciation. How can I adjust this down to zero YTD depreciation without affecting anything else.
Leslie is correct. If you change a depreciation-sensitive field, then recalculate depreciation using one of the 3 methods available, you can end up with a negative current run depreciation. See my blog post here on the affects of selecting one of the 3 depreciation recalc options - gp2themax.blogspot.com/.../gptip42day-recalculating-depreciation.html
I can't make out the details on the form, my monitor is too fuzzy. You can get negative depreciation if you make a change to one of the characteristics that produce a life changing event (they call it something else)
Has anything changed about this asset? Reset the life, method, salvage?
Kind regards,
Leslie
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