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Depreciation Dates

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Posted on by NZNZ123

Hello forum

Hope all is well your end!

I just want to confirm when depreciation is run (for accounting books), it it based on remaining lives.

The thing is, I have assets that were acquired on 30/6/2020, but due to migration or something, it was placed in service 31/10/2020, however, I cannot seem to override this, directly in the register nor via the upload.

If depreciation is not triggered by this date ie "placed in service" then I am fine, but I am not sure why I cannot change this field?

Thank you!

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Ludwig Reinhard Microsoft Employee on at

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Hello NZNZ123,

If you put the placed in service date back to 30 June 2020 then additional depreciation amounts should be calculated and posted because it is as you write. That is, the remaining lives determine your depreciation.

In case you don't have the proper user rights to make those changes, you can always record additional (manual) depreciations two write up / down a fixed asset especially after a migration.

Best regards,

Ludwig

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NZNZ123 90 on at

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Thanks for that.

Is the "placed in service" essential or would it be "last depreciation run date" that triggers the depreciation run based on lives remaining?

This whole asset migration has been a mess and we have no support!

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Ludwig Reinhard Microsoft Employee on at

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Hi NZNZ123,

The first time the FA is created and setup, the acquisition/placed in service date define the depreciation runs. Once you run it the first time then the last depreciation date is crucial. This date and the remaining depreciation periods are crucial for what is calculated.

Test things carefully in a demo/test environment because FA is always a 'mass data' things and if something little goes wrong it takes a while to clean things up later on.

Best regards,

Ludwig

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NZNZ123 90 on at

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Absolutely but thé 'consultant' advised me incorrectly during testing along with many other things.....hé had no expérience with fixed assets nor understood how it worked ......thats why in thé end hé was let go and now due to his incometence ive had to amènd everything. Im only an accountant not someone who understands the Inde and out.

So at thé moment thé last depn run field is fine, remaining lives i had to update anyway, just thé 'place in service" field i cant seem to change. Staying at 31/10/2020 as we migrated from another d364 version then.

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ToddB on at

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Hi NZNZ,

The below has some information on when you can make changes to the Placed in Service date:

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