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Rachel Conn

Small Depreciation amounts taken on newly disposed assets

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When we process our fixed asset disposals each month, we always have a number of assets that take pennies of depreciation in the month of disposal. Sometimes those pennies of depreciation are credits, which causes a problem for our Sage Posting Link journal entry application because it does not allow credits in the depreciation entry. Over time, our roll forward doesn’t tie out.

We were told that removing our period close would solve this problem, but it did not fix it. Curious if anyone else has run into this issue? Is there any way to solve it?

Thank you!

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    Hello Rachel,

    If you are in the Premier product, there could be a couple of things causing that, but the Period close is generally not one of them.

    I know of some issues on asset with life less than a year or in the last year of life when disposed in alternate accounting periods, but, as with all calculation type questions, without know all the asset’s details (by that I mean all the Book information) and the account cycle on the company, I cannot be more precise.

    On a side note, lately, I have notice some really odd things happening if the Business Start Date was not the 1st of the month.

    ~Delray

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  • 0
    SUGGESTED

    Hello Rachel,

    If you are in the Premier product, there could be a couple of things causing that, but the Period close is generally not one of them.

    I know of some issues on asset with life less than a year or in the last year of life when disposed in alternate accounting periods, but, as with all calculation type questions, without know all the asset’s details (by that I mean all the Book information) and the account cycle on the company, I cannot be more precise.

    On a side note, lately, I have notice some really odd things happening if the Business Start Date was not the 1st of the month.

    ~Delray

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