Hello,
I've been trying to find any documentation or explanation on the steps needed to change the depreciation key and useful life for multiple valuation areas on legacy fixed assets newer then 2018 and then do the necessary recalculations.
In our situation the CARES Act tax law changes in the US which passed about 2 months ago changes assets in leasehold improvements from 39 to 15 year useful life and they are now eligible for bonus depreciation retroactive to 2018. That means that we need to change not only the config moving forward in the SSCUI but also all assets capitalized in 2018 or newer in the tax areas and recalc all of them.
How do we best do this?
We are going from assets with this default setup in these areas:
Valuation View
Valuation View Desc
Deprecation Key
Depreciation Key Desc
Useful Life
0US_0090
ACRS/MACRS
SUL6
SL Mid Month
39
0US_0091
ALT MIN
SUL6
SL Mid Month
40
0US_0092
ACE
SUL6
SL Mid Month
40
To this default setup (and need to make the changes to the existing assets to these dep keys and lives):
Valuation View
Valuation View Desc
Deprecation Key
Depreciation Key Desc
Useful Life
0US_0090
ACRS/MACRS
S200
DB 200% Half Year w/Bonus
15
0US_0091
ALT MIN
S150
DB 150% Half Year w/Bonus
20
0US_0092
ACE
S150
DB 150% Half Year w/Bonus
20