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Depreciation

  • 26 July 2023
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I have multiple fixed assets that in their FA profiles have a status of fully depreciated, but also show 0.00 accumulated depreciation (balance tab) and no depreciation transactions (depreciation tab).  

I’m trying to reconcile the FA Balance by GL report to GL and these assets are missing in my report for accumulated depreciation.

Is there a situation where the above would be correct or did we do something wrong?  I believe these are only imported assets that are this way, if that helps.  (majority of imported are correctly showing fully depr though and i see no other differences)

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Best answer by blaid27 7 August 2023, 08:29

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Good day 

 

What are the assets Original acquisition cost upon import and did you put the FA into initialization mode when importing? If you did not you can encounter many different problems along the way. My advice would be to re-import or create the assets and when doing so make sure FA is in initialization mode when doing so , also try re creating one of the assets manually and see what the system does with it. If the system calculates depreciation correctly and does not fully depreciate the asset then there might be a problem with your import. Either way let me know if the above helps you in any way

 

Kind regards

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