Asset retired but still showing balance in accumulated depreciation GL account in F.01

[former_member302675]

Dear Team,

Asset retired but still showing balance in accumulated depreciation GL account in F.01.

Asset retired on 05/31/2020 ,but dep ran till 2nd period of 2020.

When user executed F.01 , accumulated dep GL showing Planned depreciation values of 3rd, 4th & 5th periods .User is asking why accumulated GL showing balances when it is retired completely.

AR01 when executed with out checking current book value , its showing zero balance.AR01 when executed with current book value , Its showing the same value which is equal to F.01 value.

How to explain this situation to the user functionally .User is asking why the planned value is showing in F.01 under accumulated GL account. They want to match Asset balance with GL balance.

asset-balance.pngf01.pngaw01n-1.pngaw01n-2.pngaw01n-1-3659664.pngaw01n-2-3659664.png

[giova10ni · Accepted solution]

Dear suresh.kata2,

You have retired your asset on 31.05.2020 without having run depreciation from Mar-May.

When you run depreciation for Mar,Apr,May then your accumulated depreciation GL will have a zero balance, and you assets will have zero NBV. System will credit accumulated depreciation GL & debit expense account. Therefore this account has a balance because depreciation has not been executed yet.

Regards

[former_member302675]

Thank you Agagiotis for your time