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Reference BUG ID#Bug 646563: Depreciation proposal and posting issues. - Boards (azure.com)

Tested the scenario in USMF legal entity.

1.Go to Fixed asset > Setup > Depreciation Profiles > Click on New > Mention as Test > Method – Straight line service life > Depreciation year as Fiscal > Period Frequency as yearly

2.Go to Setup > Books > click on New > Mention as Test Book > Enable calculate depreciation > select the depreciation profile > Test

Go to Posting Profile > Acquisition > click on Add > Select the Book- Test Book > Select the main account and Offset account

Depreciation > click on Add > Select the Book- Test Book > Select the main account and Offset account

3.Go to Fixed asset > setup > Fixed asset group > click on New > Name as Test Group

4.Go to Fixed asset Books >Test > Select the Fixed asset group as Test group > Mention service life as 0.08 and click on save.

5.Go to Fixed asset > Click on New > select the Fixed asset group > Test group > Mention Fixed asset Name as FA-Test

6.Go to Fixed asset journal > click on new and select date as 11/29/2021 > Account as 000002 > Debit as 10000 and click on Post

7.Go to Fixed asset > open asset > FA-Test > Click on Books > change the asset acquisition date as 10/01/2021 > and placed in service as 10/01/2021

8.Go to Fixed asset journal > Select date as 10/30/2021 > Select the account 000001 > credit as 1000 and click on Post

9.Go to Fixed assets > open Asset: FA-001 > click on Books > Depreciation tab

10.Go to fixed asset journal > click on proposal > click on Depreciation proposal> select date as 10/31/2021 > select the fixed asset number as 000002 and click on OK

And click on Post

11.Go to Fixed asset > Open the Asset > FA-Test > click on Books > Depreciation tab

12.Go to Fixed asset Journal > click on new > select date as 11/30/2021 > filter with asset > 000002 > Click on OK

change the amount to 4000 and Click on Post

13.Go to fixed assets > open asset > FA-Test > Click on Books > Depreciation Tab

14.Go to Fixed assets journal > run the depreciation proposal for 10/31/2021

15.Go to Fixed asset journal > run the depreciation proposal for 11/30/2021

16.Go to Fixed asset journal > run depreciation for all the assets as on 11/30/2021

Click on OK

17.Select the Fixed asset number -000002 but we didn’t find any lines

18.Click on Post

19.Go to Fixed asset journal > run the depreciation proposal for all the assets as on 31/12/2021> click on OK

20.Remove the amount for the asset – 000002 but in credit in reporting currency amount is still there

21.In the Journal header > click on Post and transfer > we got this error

22.Refresh the page and we will find the journal > click on Lines > but still credit in reporting currency amount is there

*** [Actual Result] ***

Issues:

1.Step 9: System is not considering the service life of the asset

2.System is not considering the placed in service of the asset, since the placed in service for the asset 000002 is 10/01/2021 and remaining period is one but still system is calculating the depreciation for period 11/30/2021

Step 9: Placed in service is 10/01/2021

Step 12: But still system is calculating the depreciation for period 11/30/2021

3.Step 15: When we run depreciation proposal as on 11/30/2021, for the fixed asset- 000002 System is not creating the depreciation adjustment

4.Step 19: when we run the depreciation proposal as on 12/31/2021, for the fixed asset- 000002 system is creating a depreciation line instead of depreciation adjustment

 *** [EXPECTED RESULT] ***

1.System should consider the service life of the asset

2.System should consider the placed in service of the asset

3.System should create depreciation adjustment for the period 11/31/2021 and 12/31/2021


Category: Fixed assets
STATUS DETAILS
New