Asset Depreciation Continues Despite Setting Asset an End of Life Date. (Doc ID 3059903.1)

Last updated on NOVEMBER 25, 2024

Applies to:

Symptoms

Asset depreciation is not working as expected when the asset is updated using a BKS adjustment by populating a physical date as the 'end of life', therefore overriding the useful life in months
and then completing a DeptID transfer.  This only happened where assets end of life was changed to 8/31/2024, and it appears that they generate negative depreciation for the rest of the useful life terms.
When Asset End Life date has been populated, depreciation should end on that date.

Steps to replicate:

1.  Add an Asset.
      (Asset Management > Asset Transactions > Owned Assets > Basic Add)
2.  Capitalize, then save.
3.  Calculate Depreciation.
      (Asset Management > Depreciation > Processing > Calculate Depreciation)
4.  Perform a book change – with Trans Date and Accounting Date (example: 05/29/2024), set an End Date (example: 08/31/2024).
      (Asset Management > Asset Transactions > Asset Book Information > Define Tax/Depr Criteria)
5.  Calculate Depreciation.
      (Asset Management > Depreciation > Processing > Calculate Depreciation)
6.  Perform an Asset transfer to another DeptID (i.e. from DeptID 10000 to 12000)
      (Asset Management > Asset Transactions > Financial Transactions > Cost Adjust/Transfer Assets)
7.  Calculate Depreciation.
      (Asset Management > Depreciation > Processing > Calculate Depreciation)
8.  Run Close Depreciation from Feb to June.
      (Asset Management > Accounting Entries > Close Depreciation)Activity Guide

Changes

Cause

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