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