Shift Depreciation

[Former Member]

Hi

Facing a problem w.r.t shift factor defined in assets. Would appreciate any help.

Shift factor had been defined for Plant & Machinery assets.

1. We posted depreciation upto March 2011 but did not close asset period.

2. We sold few assets (P&M with shift factor) in April 2011 and since we did not know the shift factor applicable in April we changed the shift factor to NIL w.e.f 01.04.2011 and sold the assets

3. However now we notice that system is recalculating depreciation for the whole of FY 2010 and a planned negative depreciation is appearing for March 2011 because we changed the shift from 3 to NIL Depreciation for April is for single shift i.e. NIL shift factor which is correct.

4. Now we also cannot close asset period 2010 because of this planned depreciation (Error message "Depreciation not posted completely")

5. If we reverse the retirement entries and close AA period and then post retirement again, will the recalculated depreciation appear again in April 2011?

Is the time dependant factor not working? How can we rectify this?

Thanks in advance

Aninda

[ajaycwa1981 · Accepted solution]

hi

If Asset FY 2010 was closed - You would not face this problem.. However, it may not be practical to close FY 2010 if you have some asset related adj pending...

As far as I know, the shift factor is a time dependant field... THats why you were allowed to maintain a NIL factor from Apr 2011 onwards.. However, I believe, you did not remove the earlier shift factor i.e. the earlier shift factor must exist till Mar 2011

br, Ajay M

[Former Member · Accepted solution]

Hi

How does one delete an interval? System says "You are only able to delete intervals that were newly created in this transaction. Once an interval has been written to the database, it can no longer be deleted."

I would also like to know that if the Shift factor is time dependent then how does the need to delete earlier data arise?

It may also be noted that the depreciation planned for April 2011 is an incorrect figure.

Asset value: 49,760.00

Dep rate: 4.75%

Therefore Dep should be: (49,760.00 x 4.75%)/366*30 = 193.74

System showing depreciation : 187.28

Awaiting your valuable inputs

Aninda

[Former Member · Accepted solution]

Hi

We reversed the retirement postings (as the depreciation was incorrect), reinstated the shift factor and variable portion, closed AA Period, then removed only the variable portion (shift factor need not be removed as variable portion becomes NIL) and did the retirement postings once again.

It worked. I appreciate Ajay's help as it threw some light on the issue.

Regards

Aninda