Finance : New and adjusted functionality for making adjustments to fixed assets depreciation plan
A
Alberina Shala
started a topic
about 2 years ago
Classification: USEFUL
Closing line in depreciation plan:
When a Fixed asset (FAR) is registered and depreciation has started, we have a new option in the context menu: Close earlier Depreciation and handle in this period. This context menu option can be used if fixed assets depreciation has not been done in one or more previous periods, and the total of the depreciations left behind should be added to the current period. All depreciations from earlier periods which have no GL postings for depreciation will then be closed and added to the planned depreciation amount for current (highlighted) period, in Status 0.
Adjusting investment amount, balance and depreciation amounts:
We have also made some changes to the context menu option Make Adjustment to Depreciation Plan. This option will now support two different methods for creating adjustments:
Adjust remaining plan - The revision of the asset affects future depreciation schedules.
Current Period - The depreciation of the asset to date is re-evaluated based on revised values, and any variance between the newly calculated depreciation and the previously posted depreciations is recorded in the present accounting period.
The context menu option Make Adjustment to Depreciation Plan will show a popup where some fields need to be updated. Some changes have been made to this popup, to improve the functionality and to support the two different methods. Before adjustments are done, Adjustment amount field in the popup should be filled in, the Adjustment method must be selected, and a Note can be added so that the depreciation plan will show why this adjustment was done. When adjustment is confirmed, the depreciation plan will be regenerated and a new adjustment line, with a date for the adjustment and a reference to user id, will be added to the depreciation plan.
Alberina Shala
Classification: USEFUL
Closing line in depreciation plan:
When a Fixed asset (FAR) is registered and depreciation has started, we have a new option in the context menu: Close earlier Depreciation and handle in this period. This context menu option can be used if fixed assets depreciation has not been done in one or more previous periods, and the total of the depreciations left behind should be added to the current period. All depreciations from earlier periods which have no GL postings for depreciation will then be closed and added to the planned depreciation amount for current (highlighted) period, in Status 0.
Adjusting investment amount, balance and depreciation amounts:
We have also made some changes to the context menu option Make Adjustment to Depreciation Plan. This option will now support two different methods for creating adjustments:
Adjust remaining plan - The revision of the asset affects future depreciation schedules.
Current Period - The depreciation of the asset to date is re-evaluated based on revised values, and any variance between the newly calculated depreciation and the previously posted depreciations is recorded in the present accounting period.
The context menu option Make Adjustment to Depreciation Plan will show a popup where some fields need to be updated. Some changes have been made to this popup, to improve the functionality and to support the two different methods. Before adjustments are done, Adjustment amount field in the popup should be filled in, the Adjustment method must be selected, and a Note can be added so that the depreciation plan will show why this adjustment was done. When adjustment is confirmed, the depreciation plan will be regenerated and a new adjustment line, with a date for the adjustment and a reference to user id, will be added to the depreciation plan.
Read more about the Fixed assets (FAR) here
Release date: 30 March 2023