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User forgot to put Dep. Key and Useful life in Asset master, which is created in September 2017

Feb 20 at 11:19 AM

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Dear Experts,

User found that she has forgotten to put the Depreciation Key and Useful life in Asset master, which is created in September 2017. While creating the asset system has taken 0000 as depreciation Key and useful life left as blank. Business will follow calendar year.

since dep.key was 0000 no depreciation posted in 2017.

Now the fiscal year 2017 is closed. Auditor will certify Balance sheet in April 2018.

I asked the user to follow the note 619969 (Closing FI-GL before FI-AA) since auditor is not testified, but user told us that, she does not want to correct the amortization records in 2017.

How can we rectify this, any possible options would be greatly appreciated. Many Thanks.

Regards,

Siddalingappa

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2 Answers

Best Answer
Bernhard Kirchner
Feb 20 at 04:17 PM
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Hi Siddalingappa,

If you change any parameter (for example depreciation key, useful life) the depreciation will be recalculated for all open fiscal years. But of course not for closed fiscal year. If the fiscal year can be opened and it is not testified you can simply run a recalculation of values.

If you cannot open the fiscal year, you can make the adjustments in the current fiscal year.

Write-up => Transaction ABZU: The reversal of past depreciation.

Write-ups are necessary either when the depreciation posted was too high or when the reasons for unplanned depreciation no longer apply.

Unplanned depreciation => Transaction ABAA:

An unplanned value correction as the result of a reduction in asset value, that appears to be permanent.

Best regards

Bernhard

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siddalingappa manney Feb 21 at 09:00 AM
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Dear Bernahard,

Thanks a lot for your prompt reply.

Business is not willing to open the Fiscal year 2017. Since there is no depreciation posted in 2017, I believe write-up activity is not needed. Can I suggest the business to post the 2017(Sept. October, November & December) Depreciation as un-planned depreciation in current period. Using transaction code ABAA and Transaction type 640 (Unplanned depreciation on prior-year acquisitions). Please confirm. Many Thanks in Advance.

Regards,

Siddalingappa

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