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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Fixed Assets- Overstat...
Microsoft Dynamics GP (Archived)

Fixed Assets- Overstated depreciation.

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Posted on by sandipdjadhav 18,306
Hi
Fixed Assets- Overstated depreciation.
We have found for 4-5 assets depreciation is overstated. Users says they have not changed any Depreciation Sensitive field.
Assets life was 5 yrs-Place in Service Date : 02/28/2007 Last Depreciate to Date: 02/27/2012.
I don’t know why only for few assets System Calculated Negative Depreciation? 
Please need help to troubleshoot issue.
For your reference please find enclosed screen shot.
 
 
Thanks
Sandip
 

 

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  • sueconrod Profile Picture
    sueconrod 337 on at
    Re: Fixed Assets- Overstated depreciation.

    Basically if you look at the original value of the asset it was $2663.12 and yet the LTD depreciation is saying that you have depreciated $2,709.10.  I would be looking at the LTD depreciation column.  The reason you are getting a negative amount is that the system is saying  that you depreciatied $2709.10 or 45.98 more than the asset was worth.  I would also be looking at the acquisition cost field.  And look at what the FAADD is saying when the asset was added originally.  What is that amount?  Did somebody change that field.  On the Financial Data Inquiry Field, don't filter by the 2012 only.  Open it up so that you can see what's happened in the past.  This should have been taking 44.485 (2663.12/60) for every month it truly was straight line original life.    And that would be if you are setup for Periodic (monthly) depreciation.  

    I don't know if there was any issue with the Feb 29th date this year, anyone else run into this?

  • sandipdjadhav Profile Picture
    sandipdjadhav 18,306 on at
    Re: Fixed Assets- Overstated depreciation.

    Susan,

    Appreciate for your quick reqplied. Don't know why system calculated over depreciation on Feb 28 it should have calculated 45.98$ depereciation but it calculated $88.79.

    User is saying she has not made any changes in Depereciation Sensitive Fields.

    Even I don't know if there is any issue with 29th Feb? We need to see other bloggers input.

    Please let me know if you have any input.

    Thanks

    Sandip

  • Ken Hubbard Profile Picture
    Ken Hubbard on at
    Re: Fixed Assets- Overstated depreciation.

    Sandip,

    The issue was likely caused by the end users flipping the Asset Year forward via the Book setup so they can run depreciation in the new year, then flipping it back to close the year.

    The result of this incorrect action is that LTD depreciation represents one month of depreciation in the new year but the YTD is 0.00. When the sytstem tries to run the last period of depreciation in February, it simply takes Yearly Rate - YTD and uses that amount. This caused the overstated value and the negative 'Net Book Value'

    The solution and preventative measures for this are as I already stated in the blog:

    blogs.msdn.com/.../10261218.aspx

    Thanks,

    Ken Hubbard

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