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Hi ,
I would like to depreciate assets based on Net book value of the book instead of Cost basis. Is this possible? If so how?
My scenario: We have few assets for which we need to increase the life time, rest all values remains same. So I want to how to achieve this?
All assets are using Straight line Orid Life method and averaging on Full Month.
Your responses are highly appreciated.
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I tried this, In my scenario I do no want to touch old entries so did Recalculate option as this will change for current fiscal year. But when I do depreciate until end of current year ex: 2017 remaining value of asset is getting depreciated completely even though asset is having Remaining life.
Ex: My asset was having life of 3 years with net book values of $2000, now I changed the life of asset to 5 years, I did choose Recalculate option when I saved asset. Then went to depreciate screen and did depreciation until end of 2017, this depreciated my asset net book value for 12 periods of 2017 i.e., 2000/12 = 166.66 for each period. With this my asset is completely depreciated, for next year asset cost is 0.
Actually it has to calculate the remaining life and do depreciation on number of remaining periods but this is not happening.
If you want to start over with the net book value I'd just write off that amount, not post that JE and then add a new asset valued at net book.
If you are just adjusting the Life of an asset though I'd go to the Asset Book window, change the life length and the GP will prompt you on how you want to recalculate the balance and it will adjust the schedule forward accordingly.
You'll need to take a look at the help file for what the options do but should work for you
This is for Fixed assets module in GP.
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André Arnaud de Cal...
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