Depreciation Adjustment

[Former Member]

Hello All,

We have some assets that should have had half year convention but the users entered the capitalisation date of 10/1/2011 as their depreciation start date. We went and changed the depreciation start date to 7/1/2011 and the YTD depreciation is now correct but the users would rather have the adjustment posted in November and let December post correctly

E.g if my asset has a 5 year life and its acquisition value is 100,000= 10,000 in the first year which would be 3333 for 3 months( P10,11,12) system posted 2000( just making up this number) for P9. We want 3333 to post in December, so November should post the difference of 3333-2000( the amount by which P10 was short) + P11's depreciation.

we can't rerun depreciation for p10 and fix it as the books are close.

How can I achieve this?

[Former Member]

Hi,

Your example is not clear. will you make it clear please.

you are asking 10000 depr. first year and 3333 for 3 months.... but its actually 20000 per year and 5000 for P10,P11,P12 as per ur acq. value.

And why your system is posting 2000 in the P09.

Thanks Guneet,

[Former Member]

sorry- here is the exact situation

Assets acquisition value - 61,119.24

Life- 8 years

Half year convention

first years depreciation ( p10,11 and 12 ) should be 61,119.24/8/2= 3819.95. So the value for each month should have been 3819.95/3= 1273.3175.

The users overwrote the depreciation startdate from 7/1/2011 to 10/31/2011( the cap date) the system calculated 636.66 as depreciation for P10. We want the system to post the correct depreciation i.e. the original one of 1273.3175 in december so we want the difference i.e. the amount that it didn't post in P10 to be added to P11 so a total of 1909.98 should post to P11.

I hope this is clear.

Please help I am confused

[Former Member]

and we can't rerun depreciation for p10 as the period is closed

[Former Member]

Dear mrconfused,

In AFAB Depreciation post run Select restart and Repeat buttons under Reason for posting run. through this you can return depreciation and after that just correct in Asset master and rerun the Depreciation.