Changing Fixed asset life

  • Changing Fixed asset life

    Posted by nazimlalji@hotmail.com on May 5, 2018 at 11:45 pm
    • Najeem JanatAli

      Member

      May 5, 2018 at 11:45 PM

      HI

      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

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    • 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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      ——————————————-

    • Najeem JanatAli

      Member

      May 7, 2018 at 8:02 PM

      Tested again, it worked

      Thanks a lot

      ——————————
      Nazim Lalji

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      ——————————————-

    nazimlalji@hotmail.com replied 7 years, 4 months ago 1 Member · 0 Replies
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