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Steven J

52/53 Weeks New Assets Depreciation

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Hi,

If a 52/53 week fiscal year end on 5/28/2022 for fiscal year 2022, how would Sage handles fiscal year 2023 new assets placed in service on 5/31/2022? When adding these assets after running fiscal year 2022 depreciation, these assets will include some in Prior Year Accumulated Depreciation since Sage runs the depreciation as of month end (5/31/2022).  Is there a way to have Sage recognize the fiscal year that ends before or after the last day of the month?  If not, should this be handled manually to move the prior year portion to current year? 

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    It looks like that the "Depreciation This Run" includes both the portion included in the prior fiscal year and the current fiscal year.  Does this mean a fiscal year user should use "Depreciation This Run" for the current year depreciation instead of using the "YTD Depreciation"?

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    Hello Steven,

    The answer to that question would depend on the product you have installed.

    If you have the Premier Depreciation product and have the AAP calendar setup correctly so then the FY End is 5/28/2022 and an asset Placed-in Service in 5/31/2022, then running depreciation for the end of May will result on that asset not appearing at all. That asset will be seen as being Placed-in service in the first period of the following year.

    Any other version of depreciation will see that asset as being Placed-in Service in the last period of the prior year.

    The Depreciation this run (DTR) is a variable field which will vary depending on the last time depreciation was ran prior to the current run where the YTD is depreciation calculated in the current year accord to the calendar setup in the company. If they are the same, then fine, otherwise, no, the DTR is not a substitute for the YTD.

    ~Delray

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