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Found 2 results

  1. We are using Asset management Software 2017 Enterprise Edition v , in his version prior dep is not working, as soon as we save asset ang open dep tab again, it ignores the period we selected previously and even not show the period as selected in drop down menu, Will you please fix this bug? Waiting for a positive response. egards
  2. Hi, We have been using AssetManage for a few years and were recently instructed by our auditors to change the useful life of some of our assets. I understand how to change the the useful life (by adjusting category properties), but I don't know what needs to be done in order to prevent prior depreciation from being recalculated. At the bottom of the window (on the depreciation tab of an assets detail window) there is a check box and a space to enter the amount of prior depreciation as well as the prior period end date. I have checked the box, entered the prior deprecation, and the end date but the depreciation report is not generating values that match my manual calculations (or those provided by our auditors). I believe this is what is happening, example: Fiscal Year begins July 1st Asset purchased for $100 Purchased July 1, 2010 Original useful life 7 years New useful life 3 years Change in Useful life took place between 6/30/2011 and 7/1/2011 Accumulated depreciation as of 6/30/2012 = $14.29 What I did: - Changed useful life of the asset by changing the corresponding category's property - Selected the check box for prior depreciation - Entered $14.29 for the value of the prior depreciation - Entered the date 6/30/2011 for the Prior period ending date - Saved changes and regenerated all depreciation info AssetMange Depreciation Report Output: - Annual Depreciation 7/1/2010-6/30/2011 = $14.29 Book Value = $85.71 - Annual Depreciation 7/1/2011-6/30/2012 = $33.33 Book Value = $52.38 - Annual Depreciation 7/1/2012-6/30/2013 = $52.38 Book Value = $0.00 What it should be: - Annual Depreciation 7/1/2010-6/30/2011 = $14.29 Book Value = $85.71 - Annual Depreciation 7/1/2011-6/30/2012 = $42.86 Book Value = $42.86 - Annual Depreciation 7/1/2012-6/30/2013 = $42.86 Book Value = $0.00 I believe that AssetManage is depreciating the remaining book value (present at the date of change) by taking the purchase price ($100) divided it by the new useful life (3 years), so $33 per year. When the asset reaches the end of its useful life (6/30/2013), asset manage is lumping the additional remaining book value into the final month's depreciation. I would like to be able to force the system to calculate depreciation by depreciating the Net book value as of the date of change (6/30/2011) evenly over the remaining useful life. - Net book = $85.71 - Remaining Life = 3 -1(prior depreciation) = 2 - Annual Depreciation = $85.71/2 = $42.86 - Monthly depreciation = $42.86/12 = $3.57 How can I do this? Thanks for the help! - Simon
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