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May 22, 2020 at 12:03 PM

Fixed Asset depreciation Key Change #COE #MODPIZZA

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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