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Creating Fixed Asset for Land

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I am a brand new to NAV and I am trying to set up fixed assets for my company. How do I set up land? The system wants to force me to use a depreciation book even though land is not depreciated. I set up the asset and used the standard depreciation book and straight-line depreciation, but now when I run depreciation I am getting an error because I have not set the useful life for the asset. How do I set up land so it either doesn't require a depreciation book or the system knows to skip that asset when running depreciation?

  • Suggested answer
    Bilal Haider Profile Picture
    Bilal Haider 2 Super User on at
    RE: Creating Fixed Asset for Land

    If you want to skip that asset when running depreciation simply use Depreciation Method as Manual.

    Further info as:

    Depreciation-of-lands.PNG

  • Suggested answer
    Dirk Profile Picture
    Dirk on at
    RE: Creating Fixed Asset for Land

    Hi Cathryn,

    Yes, NAV/BC requires the Depreciation Book Code and it's okay to use the default book.

    And then ... for "land" you can select the Depreciation Method = "Manual" instead of "Straight Line".

    This allows you to register the acquisiton costs (no check for a missing Depreciation Method) but does not force you to calculate any depreciation (still ... if needed at some point / for some reasons you can depreciate manually).

    If you cannot change the Depreciation Method becasue you already registered the acquisiton costs ... please temporarily enable "Allow Changes in Depr. Fields" in the Depreciation Book, change the Depreciation Method in the fixed asset record and then disable the "Allow Changes ... " again.

    Hope this helps

    Kind regards

     Dirk

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