Capital Asset movement between accounts with the same Organizational and Campus Plant Accounts

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    Kymber Taylor

    Hi Cathy,  this is not correct behaviour - but it is what's happening. 

    Following are the current options we have to change the accounting string on an asset and neither of them  work. Option 2 sounds like what you're describing. 

    Option 1

    If we do an MPAY to reverse the payment off the old account and put it on the new account
    the first payment will continue to depreciate against the old account, the reversal will create negative depreciation on the old acount over the remaining useful life the payment on the new account will also start depreciating over the remaining useful life. Overall the depreciation expense will be correct on the asset, however, the amounts in the GL will not be correct.

    For example, asset 1920- April Depreciation:
    Depreciation Payment 1 - 300.21 posts to 4131410
    Depreciation Payment 2 - (358.46) posts to 4131410
    Depreciation Payment 3 - 358.46 posts to 1031400

    So, you would have to do a GL entry each month to correct the GL posting.

    Option 2

    Alternatively - we could link payments 1 and 2 together which stops depreciation on those payments, but it also reverses out the depreciation and payment 3 would start depreciating over the remaining useful life. So the asset and the GL depreciation are wrong.

    We are tossing around allowing editing Asset Payments - but it's early and there are no immediate or concrete plans to do so - we do DB updates to correct Stevens assets. 

     

     

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    Cathy Salino

    Thanks Kymber, I will share with our Capital Asset folks (and others).

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