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Fixed asset addition - retroactive depreciation

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Posted on by Frank Hamelly | MVP...

46,220 Super User 2024 Season 2

Client has an asset they've depreciated through 12/31/2023. They now have posted an addition to the asset, back dated to 9/30/23 and are expecting retroactive depreciation (Oct-Dec 2023) to be part of a new depreciation proposal. Does the system do retroactive depreciation on additions? If so, what are the parameters in the asset book and/or Fixed asset parameters that need to be enabled?

Thanks in advance.

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Frank Hamelly | MVP... 46,220 Super User 2024 Season 2 on at

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Fixed asset addition - retroactive depreciation

Thanks Andre!
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André Arnaud de Cal... 291,735 Super User 2024 Season 2 on at

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Fixed asset addition - retroactive depreciation

Hi Frank,

You can enforce a retroactive depreciation by changing the last depreciation date and remaining periods on the asset book. Make sure to test this in a test environment first to check what exact values to use and if the depreciation amounts will be correct. Depending on the depreciation method, the amounts can be different as per expectation. In that case, you can try other settings or change the amounts in the depreciation proposals manually.

You can also create manually new asset journals for retroactive depreciation.

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