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Suggested answer

Issues: Update of Fixed Asset useful life in AX

Posted on by 1,641

Hi Experts,

We have updated the useful life of PPE in Fixed asset groups set up. However, the update was reflected only to new assets added in 2022 but not to assets already existed in FA register.

Please check the below screenshot

 

Fixed asset group

 7144.png

5657.png

3386.png

Test Equipment (existing PPE)

 

Test Equipment (added in 2022)

 

 

  1. Currently, the depreciation run is computed generally based on the formula (Acquisition / useful life). However, due to the update, it is recommended that the existing assets must be depreciated based on the (Net Book Value of Assets / remaining useful life).

Otherwise, depreciation expense will be over or understated based on assets remaining useful life. See below sample.

0815.png

6545.png

 

 Thanks

Faiz

  • faiz7049 Profile Picture
    faiz7049 1,641 on at
    RE: Issues: Update of Fixed Asset useful life in AX

    Hi Darryl,

    I want whatever (New or Old ) Fixed Assets under Fixed Assets group the useful life change automatically after changed in Fixed Assets Group.

    Thanks,

    Faiz

  • Suggested answer
    Darryl_Hastie Profile Picture
    Darryl_Hastie 20 on at
    RE: Issues: Update of Fixed Asset useful life in AX

    Hi Faiz,

    The values on the fixed asset group are defaults that are applied to new assets as they are created.  

    An individual asset can be changed to have a useful life different from the asset group.

    This is expected behavior.

    You'd need to change the useful life on each asset for the depreciation to be calculated differently.

    Regards,

    Darryl

  • faiz7049 Profile Picture
    faiz7049 1,641 on at
    RE: Issues: Update of Fixed Asset useful life in AX

    Hi Experts,

    Looking for your input.

    Thanks,

    Faiz

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