No purchase date on Fixed asset

Hello,

Welcome to Acumatica Community!  I see this is your first question. 😀

The most important date in Fixed Assets is the In-Service Date. In-Service Date is the begin depreciation date. In-Service Date (along with Life of asset and mid-month choice, etc) controls when Depreciation begins and ends, and how much depreciation is recorded each month.

Receipt Date controls the date on the Purchase transaction only. From Acumatica Help:

Are you implementing Fixed Assets with Update GL turned off? Normally FA is implemented with posting to GL turned off.  With “Post to GL” turned Off in Fixed Assets Preferences… the Receipt Date does not affect the GL when the Purchasing + transaction is added to the asset. For these reasons, Receipt Date is less important than In-Service Date.

Laura

Hi Laura, thank you for your reply.

The client has to go through invoices to find out the receipt date/purchase date. 

I’m guessing they will have to in order for depreciation to be calculated by the system. 

Another question around this please. If i put through an opening balance adjustment that is unposted, when i calculate my depreciation it increase what i expected; im thinking this is because of my depreciation adjustment - does this sound right? 

Hello, 

Can you show the details please? Show the opening balance, show adjustment transaction, explain need for adjustment - what the goal is (what result you need from this adjustment), and show the actual result. Include identifying aspects of screens (I mean show the title of screens in the screen captures).

Seeing your details helps me to understand and to answer .

Thank you.

Laura