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[Danny Clemenson]

We are currently on GP215 r2 and implementing fixed assets from and external system to GP Fixed assets.

We have all the assets in and when we go to Depreciate it only depreciates  a few of the assets?  The assets the didn’t depreciate show the depreciated date of 12/31/2016 however the Current Depreciation field is blank.

Any Ideas on what we may have configured incorrectly on the asset that did not depreciate?

See attached screen shot.

Thanks for any help.

-Danny

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Danny Clemenson
Business Analyst
Progressive Components
Wauconda IL
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[Frank Heslin]

Hi Danny,

I haven’t used the FA module in a while, but I did notice that the Yearly Depreciation Rate is set at 10% of your Cost Basis but your Original Life is only 5 years.  (Meaning your Yearly rate should be 20%)  Also, since your YTD depreciation amount equals your yearly depreciation rate, GP thinks that there isn’t anything left to depreciate for the year.

Hope this helps!

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Frank Heslin
Financial Systems Administrator
ExamWorks, Inc.
Atlanta GA

Member, GPUG Advisory Committee
Chairman, Georgia Regional GPUG Chapter
Summit 2016 Track Leader

GP2015 R2
MR CU14

Follow me on Twitter: @Automate_It

GPUGGA – http://www.gpug.com/Atlanta

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[Kim Sutherland]

Based on a 5 year life and a Placed in Service date of July 1, 2016, the asset has already been depreciated for 6 months to December 31, 2016.  ($70,302/60*6 = $7,030.20)   

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Kim Sutherland
AKITA Drilling Ltd.
AB
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[Danny Clemenson]

Kim,

Thank you for your help I will let you know our success.

-Danny

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Danny Clemenson
Business Analyst
Progressive Components
Wauconda IL
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[Coleen McNally]

Hi Danny

Your Placed in Service Date drives the depreciation. 

Because your YTD Depreciation is equal to 6 months of depreciation GP will not calculate any more depreciation for the asset.  For a full year your depreciation should be $14,060.40 but since the Placed in Service Date is 7/1 and you have a YTD of $7,030.20 GP is acting like you hit your max dep for the year.

Hope this helps.

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Coleen McNally
Software Solutions Group, Inc.
Amherst NY
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