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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Fixed Asstets deprecia...
Finance | Project Operations, Human Resources, ...
Suggested answer

Fixed Asstets depreciation after FA year close

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Posted on by Julia_Gallegos

Hi team,

   I have a problem in GP2015 R2, the last depreciation was in November 2021, but the user run the FA year close, and now when depreciate the last month to 2021, GP calculates the amount for all the year, not for one month.

The book is DEPRPERIOD=1 and CURRFISCALYR=2022

I can't depreciate december 2021, because the book has the year 2022.

If I run the depreciation to January 2022, the depreciation amount for December represents all the year and january is correct, the amount is for one month

An example:

FA: 000001200

Depreciation per month, before December $765.76

Depreciation in december 2021  $9,189.10

Depreciation in January 2022 $765.76

What can I do? I need to depreciate December correctly.

Regards

Julia Gallegos

Categories:
Microsoft Dynamics GP
  • Community Member Profile Picture
    Community Member on at
    RE: Fixed Asstets depreciation after FA year close

    Check Last Closed Fiscal Year in FI and FI-AA. Check Customizing Using Report RACHECK0.Check Incomplete Assets. Check Indexes. Recalculate Depreciation. Execute Depreciation Posting Run. Execute Periodic Posting Program. Reconcile General Ledger and Subsidiary Ledger.marykayintouch

  • Hokuminaria Profile Picture
    Hokuminaria 2,950 on at
    RE: Fixed Asstets depreciation after FA year close

    Hello Julia,

    To depreciate the ones that were not depreciated to the last day of the year will need to be depreciate to a date in the open year, then reset life.

    In regards to this being fixed. This is not broken. The year end close Kb for fixed assets states to depreciate all assets to the last day of the year. This would a be processing issue if they chose to not depreciate all assets before closing.

    I hope this helps!

    Thank you!

    Brandon Jarrett | Microsoft support engineer.

  • Julia_Gallegos Profile Picture
    Julia_Gallegos on at
    RE: Fixed Asstets depreciation after FA year close

    Hi Brandon,

       I would like to know if this issue is corrected in GP2018... Is it?

    Thanks

    Julia

  • Julia_Gallegos Profile Picture
    Julia_Gallegos on at
    RE: Fixed Asstets depreciation after FA year close

    Hi Brandon,

        I found another group of fixed assets not depreciated in December 2021 the last depreciation was in November 2021, how can I depreciate december?  I can not because the year book is 2022, the year 2021 is closed.

    Is the only solution depreciate to January 2022 and reset life?

    Regards

    Julia

  • Hokuminaria Profile Picture
    Hokuminaria 2,950 on at
    RE: Fixed Asstets depreciation after FA year close

    Hey Julia,

    I hope you are well!

    There is a way to do this in mass. To do this, you will need to create a group, then you can reset life through the mass change window. The kb article below provides steps to do this.

    support.microsoft.com/.../how-to-reset-the-life-of-an-asset-or-of-a-group-of-assets-in-fixed-asset-management-in-microsoft-dynamics-gp-d041e242-df8d-cce9-0cfb-e53c0f9f0ff2

    I hope this helps!

    Thank you!

    Brandon Jarrett | Microsoft Support Engineer

  • Julia_Gallegos Profile Picture
    Julia_Gallegos on at
    RE: Fixed Asstets depreciation after FA year close

    Thanks Brandon,

        I'm testing the reset life, but it is possible to reset life masive?

    Regards

    Julia

  • Suggested answer
    Hokuminaria Profile Picture
    Hokuminaria 2,950 on at
    RE: Fixed Asstets depreciation after FA year close

    Hello Julia,

    The issue you are experiencing is covered in the Year End Close KB article for Fixed Assets.

    KB - The year-end closing procedures for the Fixed Asset Management module in Microsoft Dynamics GP

    Q3: I ran the year-end routine in Fixed Asset Management, and then I ran depreciation in the new year. I see that the depreciation is highly overstated and that some assets have a negative number in the "Net Book Value" field. Why is the system calculating so much depreciation?

    A3: This problem occurs if the following conditions are true:

    • The year was closed.

    • The assets were not depreciated through the last day of the fiscal year.

    Consider the following example:

    • The fiscal year is a calendar year (January 1 through December 31).

    • The assets were depreciated through December 28 when the year was closed.

    In this example, depreciation will be incorrect the next time that depreciation is run. The system does not recalculate the yearly rate when the year-end closing routine is performed. Therefore, fixed assets take a full year of depreciation in the last few days that remain in the previous year (December 29 through December 31). The rate of depreciation is the yearly rate currently on each asset. Additionally, if there are assets that are near the end of their original life, the Net Book Value field may become negative.

    There are two workarounds for this problem:

    • Recommended workaround:
      Restore the data from a backup, run depreciation through the last day of the year, and then perform the year-end closing procedures.

    • Alternative workaround:
      Reset life on all the assets.

    Note If amounts on the assets have ever been entered for the YTD Depreciation field or for the LTD Depreciation field, resetting life on the assets will change these amounts, and the result may be different. If you change the YTD Depreciation field or the LTD Depreciation field by resetting life on the asset, you will cause inconsistencies between Fixed Asset Management and General Ledger. These inconsistencies must be explained.

    I hope this helps!

    Brandon Jarrett | Microsoft Support Engineer

    Thank you!

  • Michael O'Donnell Profile Picture
    Michael O'Donnell 355 on at
    RE: Fixed Asstets depreciation after FA year close

    Use the reverse depreciation option and rerun it again until December 2021. You do not have to post it to the financial module.  

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