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Jared G.

Multiple Under Depreciated Assets

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I recenly took over Fixed Assets for an existing company in our 2015 FAS-Depreciation Network.  While familarizing myself, I ran a Depreciation Adjustment report.  The report uncovered 424 assets that were under depreciated and amount to a considerable amount of $.   The Company was set up with "None" for the book override.  As a result, when changes were made to book information, the adjustments (if any needed) were not captured. 

We use straight line depreciation.  I know that to fix this we can change the depreciation method to RV.  However I'm hoping there is way in FAS to the this efficiently without having to go into the FAS Detail for each of the 424 assets and change the depreciation method to RV.  I've created a group, but right now all I know to do is go into each asset individually. 

Is there a way to make a bulk change, or to do an export and import to more efficiently make the changes?

Thanks,

Jared

  • 0
    verified answer
    Hello Jared,

    The RV process exists because it is the safest course of action.

    This is no mass changes to critical values through the program, and if you went through the Export\Import process, that would create new assets not change the existing ones.

    Yes, there are the Adjustments, but in a company which has been around for a long time, turning on either of the adjustments and cause some serious confusion about when the depreciation was actually taken. Not to mention you would never be out a historical report again.

    I got great big long (read boring) speeches memorized on how bad turning on the adjustments on a company that has been around a while can be and their actual effect.

    Without getting into the details of the assets, the only answer that can be given, is use the RV method, or call into support for a proper troubleshoot: 800-331-8514

    ~Delray
  • 0
    Delray,

    Thanks for the timely reply. I kind of figured that there was not a more effecient way, but I had to ask for certain. We certainly want the history and I was planning on turning on the adjustments for this company.

    Before I got your answer I already backed up the company and begin the process of change the depreciation method to RV. I've made changes to approximately 200 assets, that were the bulk of the under depreciated assets in terms of $.

    Thanks again.

    Jared

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