When you check the depreciation tab in the fixed asset, you notice that for a fiscal year the system is not showing planned depreciation for all periods. Instead the planned depreciation for the complete year is displayed for period 12 only.
Reproducing the Issue
- Go to Fixed Asset work center
- Select Fixed Asset view
- Show all fixed asset
- Search for the fixed asset and select the row
- Click on Edit and select Values
- Go to Depreciation overview tab
- Select Fiscal year from the dropdown list.
You have created the relevant fiscal year in the system. Depreciation are only displayed for the available fiscal year in the system + 1 year. For the remaining year(s) one line for last period will be shown. This entry includes the complete planned depreciation for the entire year.
For example fixed asset XYZ, in each period you should depreciate 10 USD. You have fiscal year 2015 available in the system. So system will display depreciation for all periods for 2015 and 2016. For 2017 onwards, system will display complete depreciation (i.e Depreciation for each period * Number of period. In this case 10 USD * 12 Periods = 120 USD) in the last period which is period 12.
This is behavior is the standard system behaviour. The system is working as designed.
However, if you would like to see the depreciation for the currently available Fiscal year(s) + 2 years, you need to create a new fiscal year in the system.
For example : You have fiscal year 2015 available in the system. Consequently depreciation for all periods for 2015 and 2016 are displayed. If you would like to display the depreciation for fiscal year 2017 also, you need to create the fiscal year 2016 accordingly. Once you create fiscal year 2016, depreciation for fiscal year 2017 are displayed.
Please follow below mentioned steps to create a new fiscal year.
- Go to General ledger work center
- Select Set of books and assigned companies view
- Select the set of books and click on Edit Fiscal Year
- Click on New Fiscal Year to create new fiscal year in the system
- Click on Save.
Please note that you cannot have more than 3 years open in the system. In case you already have 3 fiscal year open, before you create new fiscal year, you need to close the past fiscal year by performing all closing activities.
KBA , SRD-FIN-FA , Fixed Assets , How To