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incorrectly tick YES to 'Create depreciation adjustments' in Fixed Asset

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Posted on by Community Member Microsoft Employee

Hi D365 guru,

I am using D365 V10. 

  1. I have already run June monthly depreciation.
  2. I found one asset had substantial amount of depreciation.
  3. This asset was original value 211k with additions value added in June. (14k)
  4. I did not realise the box - Create depreciation adjustment' was ticked as yes when I added this 14k to this asset.
  5. This causes depreciation adjustments for 62k both in Accounting book and tax book.

So my question are:

  1. Since I have already run monthly depreciation, how can i fix this incorrect depreciation adjustments?
  2. Can I still reverse the acquisition 14k? So the depreciation adjustments can be reversed?

pastedimage1563357201357v1.png

Thanks heaps.

Sarah

Categories:
Financial Management
  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: incorrectly tick YES to 'Create depreciation adjustments' in Fixed Asset

    hi Ludwig,

    I did:

    1- reverse monthly depreciation (have to do both Accounting and Tax book)

    2-reverse the acquisition adjustments

    3-change the setting in this asset, add the additional amount 14k in Acquisition cell in Asset both Accounting and Tax book

    4-prepare acquisition adjustments and post. now it is just one line 14k

    5-proceed normal monthly depreciation

    Thanks for your help.

    Sarah

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: incorrectly tick YES to 'Create depreciation adjustments' in Fixed Asset

    hi Andre,

    I did not try your method as posting negative acquisition addition is scary. I tried below method provided by Ludwig. It works

    Thanks

    Sarah

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: incorrectly tick YES to 'Create depreciation adjustments' in Fixed Asset

    Thanks Ludwig. The reversing of depreciation is ok to procced. I will just need to reverse the additional acquisition as well. I will let you know shortly today.

    A side question: is there any way I can check in Fixed Asset module that which asset has been ticked yes to "Create depreciation adjustments'? Generally it should be NO right? unless we have special case to depreciate more than normal schedule. Checking asset by asset won't be practical.

    Thanks

    Sarah

  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: incorrectly tick YES to 'Create depreciation adjustments' in Fixed Asset

    Hello Sarah,

    If you navigate to the voucher you should be able to cancel it, which creates reversal entries.

    Double check the date the reversal is made first in a demo/test environment to ensure that it is made in the correct period.

    If your tests are fine and you are happy with the reversal then you can do that in your live system.

    Best regards,

    Ludwig

  • Suggested answer
    André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 291,642 Super User 2024 Season 2 on at
    RE: incorrectly tick YES to 'Create depreciation adjustments' in Fixed Asset

    Hi Sarah,

    You can try two options:

    - Post a negative acquisition addition with the same (wrong) settings.

    - Post depreciation corrections and adjust the remaining number of periods on the value model, if required.

    Test the solutions in a separate environment first and check if future depreciation will be still correct.

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