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Fixed assets depreciation

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Dear all;

How can we completely depreciate a fixed asset at the end of the year of its acquisition without manual intervention on the value of depreciation periods.

My need is to fully depreciate at the end of the year only the assets whose acquisition value is less than 500.

Is there an automatic operation that manages this?

Thank you in advance for your help.

  • Suggested answer
    Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,241 Super User 2025 Season 1 on at
    RE: Fixed assets depreciation

    One option would be to export the Fixed asset balances report at year end, filter for all assets < $500 acquisition value, then prepare a Depreciation journal based on the difference between Acquisition and NBV, import and post it.

    Also, this might work - setup a Depreciation profile like this with a Period frequency of Yearly.

    pastedimage1672955545627v1.png

    Then assign it to Asset group books like so, where the Asset group has a 1-year service life.  Of course, you'd have to assign this asset group to your $500 or less assets.  I don't know if this will work, but it's worth a test.

    pastedimage1672955598696v2.png

    What country is this for?  Are you required to capitalize assets of $500 or less?  That's a very low threshold for capitalization.

  • Suggested answer
    Jonathan D Struble Profile Picture
    Jonathan D Struble 128 on at
    RE: Fixed assets depreciation

    pastedimage1672926094548v1.png

    Perhaps try adjusting these months to match the end of your year?

    [quote user="Slim SAIDI"]

    Dear all;

    How can we completely depreciate a fixed asset at the end of the year of its acquisition without manual intervention on the value of depreciation periods.

    My need is to fully depreciate at the end of the year only the assets whose acquisition value is less than 500.

    Is there an automatic operation that manages this?

    Thank you in advance for your help.

    [/quote]
  • KPMG Profile Picture
    KPMG on at
    RE: Fixed assets depreciation

    Hi,

    No, that's not the right process for my need, because for an asset acquired in 2022 the depreciation still calculated in 2023 by using this type of profile.

    I want calculate all the depreciation on 2022 and there is no report on 2023 :

    pastedimage1672827977357v1.png

    pastedimage1672828036857v2.png

    King regards

  • Suggested answer
    BillurSamdancioglu Profile Picture
    BillurSamdancioglu 16,455 Most Valuable Professional on at
    RE: Fixed assets depreciation

    Hi, You may setup a profile as factor and have %100

  • KPMG Profile Picture
    KPMG on at
    RE: Fixed assets depreciation

    Hello Frank ;

    A large number of this type of asset per year, so it is not desired to manage them manually on the registers of each asset.

    Kind regards

  • KPMG Profile Picture
    KPMG on at
    RE: Fixed assets depreciation

    Hello Billur ;

    Thank you for your reactivity.

    In addition I'd ask you if there Is a depreciation profile that fully depreciates the asset in the same year even if it is acquired during the year, on June 18th for example ?

    Thank you for your help.

  • Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,241 Super User 2025 Season 1 on at
    RE: Fixed assets depreciation

    It's an out of the ordinary process, so no, there's no automated process for your requirements.  How many assets meet these conditions?

  • Suggested answer
    BillurSamdancioglu Profile Picture
    BillurSamdancioglu 16,455 Most Valuable Professional on at
    RE: Fixed assets depreciation

    Hi,

    Just some offers;

    Why not use expense accounts once they are acquired rather than year end depreciation?

    May group them in a different asset group and assign a book for a profile of a yearly depreciation profile?

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