If the fixed assets life are wrong can it be fixed
Scenario is for FA group “Computer”Ā life is 5 years. after a year company want to change it to 3 years. when tested it allowed to change from 5 to 3 years. increased the future depreciation. However the Fixed asset was fully depreciated in 33 months instead of 36 months (equivalent to three years)
Any one came across with issue like this
Please advise
thanks and kind regards
—————————— Nazim Lalji
——————————
Ludwig Reinhard
Member
May 6, 2018 at 1:49 AM
Hello Nazim, What you did is basically correct. Not sure why the FA was only depreciated for 33 months. Have you checked the remaining depreciation periods? In the depreciation profile form that can be accesses from the value model/book, you can get a preview of the effects that such a change in the depreciation periods has before actually applying them. Best regards, Ludwig
—————————— Ludwig Reinhard Sycor Goettingen —————————— ——————————————-
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