Dear Friends,
Pls i have a customer working on month end close and trying to understand if they need to do something different to get the correct depreciation this period.
Asset number ## - was created in 2013 and a GR was completed in Dec 2013. In Feb 2014 another GR was completed on the same asset – appropriate one is equipment and the other is the install.
The customer found the ADD on their addition report but they want to know if they need to do something different to get this depreciation?
Here are a few screen shots:
- Asset Explorer – Parameters for Depr Area 01 (Book) to prove its depr started in 2013.
- Asset Explorer – Asset Value Area 01 in 2013 shows GR being completed.
- Asset Explorer – Asset Value Area 01 in 2014 shows additional GR being done and adding to cost.
- Asset Explorer – Asset Value Posted Area 01 in 2014 shows depreciation planned on this asset.
Why isn’t there any depreciation planned for P2? The depreciation planned for P5 is 48.51 times 4 months = 194.03 so the calculation is correct. $4074.69 / 84 = 48.51, monthly depreciation looks okay too though the additional 12.16 in depr only starts in 2014. Is this going to cause both Book and Tax issues.
Am working on this at the moment, i just need a better direction to work this over.
Pls advice
Regards
Femmy John.