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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Fixed Asset
Microsoft Dynamics GP (Archived)

Fixed Asset

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Posted on by Suet Lee 1,345

Hi,

Does anyone have any idea why when we run retirement process for an asset with Straight-Line Depreciation Method and Averaging convention Full period, the transaction will be reflected to a previous period when view under Fixed Asset Financial Detail Inquiry? For example, retirement process run under 31/08/08 (assuming the fiscal period follows calendar year), but when view under Fixed Asset Financial Detail the transactions are posted to period 7 (July) and not period 8 (August).

I understand the averaging convention method whereby assets retired anytime during the month will be considered retired on the last day of the month previous to Retirement Date. But this should only affect the depreciation calculation and not the posted period.   

Thanks in advance for any feedbacks.

  

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  • Suet Lee Profile Picture
    Suet Lee 1,345 on at
    Re: Fixed Asset

    Hi Mpolino,

    Thanks for the suggested workaround.

     

  • mpolino Profile Picture
    mpolino on at
    Re: Fixed Asset

     When you use the "Full Month" averaging convention, it takes a full month of depreciation in month 1 meaning there is no depreciation left in the final month. Retirement works the same way by closing out the asset as of the previous month since their shouldn't be any depreciation in the month at the end. The system is consistent in that the Next Month averaging convention works similarly. Since there is no depreciation in month 1, the retirement transacition always posts to the next month, not the one you're in.

    There are a couple of options to deal with this. 

    1) Date the retirement the first day of next month and it will post into the current month.

    2) Change the averaging convention before processing the retirement.

    Changing the GL posting only is a bad idea since this gets the FA subledger dates out of alignment with the GL.

    Mark

     

    More GP fixed asset info is available here: http://msdynamicsgp.blogspot.com/search?q=fixed+assets

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