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Negative asset

Hi Experts,

The issue is as under:

Tax Book Asset 60001 is a Negative (minus) asset which was created to True Up Assets Sold - When 2009 depreciation expense (fiscal year start) was loaded into SAP the depreciation expense was loaded as a negative which is incorrect. If the Asset Cost is Negative the depreciation expense should be positive (debit) - Therefore the following books need to have the fiscal year start depreciation changed on this asset to a debit vs credit. The books affected are Book 10 - Fed Tax ACRS/MACRS - (98,003.12) - s/b 98,003.12; Book 11 - Alternative Minimum Tax - (73,801.13) - s/b 73,801.13; Book 40 - CA State Modified ACRS/MACRS - (71,709.60) - s/b 71,709.60 - Book 42 - MA State Modified ACRS/MACRS - (98,003.12) - 98,003.12. - This change will reduce the Net Book Value on all of the books as of year end 2009 which will be correct.

How i can make changes?

Thanks in advance

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  • Posted on Apr 13, 2011 at 06:45 AM

    Hi Shantanu

    If you are saying that while going live in 2009, you uploaded Wrong dep amount from AS91 - I dont think that can be changed now... It will not be a wise decision...

    In that case, I would suggest post an Unplanned dep or Write up to adjust the Net Book Value of the asset...

    The choice between Unplanned Vs Write up - Unplanned dep does not affect the Dep values in current year... It affects the dep values from next year... So, write up is a better option incase you want tthat the adjustment should impact the dep in the current year

    br, Ajay M

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    • Hi

      1. Hmm, You can post Write up to the extent of Spl Dep posted i.e. 98k

      2. For the same amount, post an Adhoc Posting from ABSO - Using the Asset, Tr Type 100, And a GL Account specified for Offsetting posting....

      Instead of 2 separate postings, you can completely avoid write up and use ABSO as well

      This GL Account can be your initial balance upload account, because you would have posted wrong entry to this at the time of Go Live

      br, Ajay M

  • author's profile photo Former Member
    Former Member
    Posted on Apr 13, 2011 at 11:38 AM

    Hi,

    Waht ajay said is correct. I too had such kind of issue and i corrected it by doing writeup. Hopefully it will work for you too.

    Thnx,

    JKS

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