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[Jacob Dinota]

Hello GPUG,

We realized that we forgot to place some assets into service during prior months throughout the year. We want to place all of the assets into service in December, and then book an entry that captures all of the missed depreciation that should have occurred throughout the year.

What would be the best way to go about doing this? Can we just enter in the assets the way we normally do and then change the Placed in Service date?

Thanks,

Jake

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Jacob Dinota
Connections Education LLC
Baltimore MD
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[Jo deRuiter]

Good Morning!

The method I would use for this is to enter the assets as normal with their ACTUAL place in service date then run depreciation.  The depreciation routine will pick up all of the missed depreciation and then when you run the GL Posting you  can just post it all in December so depreciation does not hit prior months.

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Jo deRuiter
Lead Techno Functional Consultant
Aisling Dynamics Consulting
Kennesaw GA
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[Julie Storey]

I agree with Jo and make sure when you run the GL Posting routine that you run it with either no start period (0000-000) or make the start period the beginning of the year (e.g. 2016-001) or the date of the earliest period assets were added.  If you make it the start and end period in December it won’t pick up the prior months’ depreciation.

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Julie Storey
InterDyn BMI
Roseville MN
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