How to clear planned depreciation amount

[Former Member]

We had a purchase order that was incorrectly coded to post to an asset account, instead of an AUC, so when invoice receipt was processed, the asset was posted with the value.

This asset was capitalized in Aug 2006 (although the first depreciation was not run until Nov 2006). It had a useful life of one year. So, when the invoice receipt was posted in August 2007, the net book value of the asset was zero and there were no future planned depreciation amounts (the first depreciation run posted 4 months worth of depreciation amount).

In Asset Explorer, the posting from the invoice receipt (MIRO) showed 'Ord Depr' as $73k, but when we reversed the invoice (using MR8M), this posting showed 'Ord Depr' as $121k. The difference is $48k and the system is showing this as the Planned Net Book Value. This is causing the asset to have 'planned depreciation amounts' for the next few months, even though the Posted NEt Book Value is zero.

Why does the invoice reversal showing a different Ord Depr amount from the original invoice (both have the same document date and posting date)? And how do we clear out the $48k?

thank you,

Lanny

[Former Member · Accepted solution]

Hi Ruslim,

Have a look to the period control in you depreciation key

Paul

[Former Member · Accepted solution]

Hi Paul,

Thanks for the answer. Yes, I can see from the period in depreciation key why the system is calculating the $121k when we reversed the invoice. I think the question now is how do we fix this so the asset will not have the 'planned' depreciation amount? I changed the value in Expired Useful Life in the asset depreciation areas so that all 12 months of the asset life has expired. I then use AFAR to recalculate depreciation, but nothing happens.

Any suggestion would be appreciated. Thank you.

--Lanny

[Former Member · Accepted solution]

Hi Paul,

We played around with the periods and finally found a 'combination' that works. Thank you very much for your help.