Re: Fixed Assets Queries - 13.07

[Pierre Smits <pi...@gmail.com>]

Hi Sharan,

Welcome back. What JIRA issue are you referering to?

Regards,

Pierre Smits

*ORRTIZ.COM <http://www.orrtiz.com>*
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On Sat, Apr 5, 2014 at 11:17 AM, Sharan-F <sh...@gmail.com> wrote:

> Hi Everyone
>
> I'm doing some testing in for Fixed Assets on 13.07 and have come across
> the
> following:
>
> *No Accounting Transaction at Asset Creation*
> When you create an asset then you need to record the purchase cost in the
> general ledger. The transaction is normally something like (Debit Cash /
> Credit Asset Account).
>
> When you setup a depreciation method there is a link to create the
> depreciation accounting entries but this type accounting transaction link
> to
> create the accounting transactions related to a new fixed asset doesn't
> currently exist.
>
> The workaround is to manually create the transactions - so this would be
> probably classed as "nice to have"
>
> *No Monthly or Quarterly Depreciation*
> OOTB depreciation runs on an annual basis but I know that there are many
> companies that run depreciation monthly or quarterly.
>
> Looking at JIRA I see that there is an existing one already dealing with
> this.
>
> *Possble Incorrect Labelling*
> On the Depreciation screen there is a "Depreciation history" section.  When
> you run the depreciation for an asset this section gets updated. I have
> found that there is a label in this section called "Depreciation" but the
> value displayed is NOT the depreciation amount but in fact the updated Net
> Book Value of the asset (once the depreciation has been deducted).
>
> In my example I created an asset with purchase cost 900. I set it up with a
> life of 3 years and straight line depreciation method. In theory this
> should
> depreciate the asset at 300 per year.
>
> After running the depreciation for the first year.  The depreciation should
> be 300, the accumulated depreciation should be 300 and the net book value
> of
> the asset should be 600 (instead of 900 because 300 has been deducted).
>
> Looking at the Depreciation History section I get:
>
>   Purchase Cost = 900
>   Depreciation = 600          (*Depreciation should is 300. The Net Book
> Value
> is 600*)
>   Date Acquired: 1st March 2013
>   Expected End of Lift: 1st March 2016
>   Next Depreciation Amount = 150 (which I also have a query on below)
>
> I think this may be linked to the Edit Fixed Asset detail screen where
> there
> is also a "Depreciation" field and when depreciation is run this is also
> updated incorrectly updated with the Net Book Value.
>
> *Next Depreciation Amount *
> There is another value here called "Next Depreciation amount" and it seems
> to just display a value that is half of the last depreciation amount.  (My
> depreciation amount was 300 and it displays half of that 150). I've tried
> this with other values and it consistently is adds a half of the actual
> depreciation value to this field.
>
> Should this be the value of the next projected depreciation amount (eg 300)
> or is it being used to hold the depreciation to date (so would update
> depending on which day you viewed it)?
>
> Is anyone else using Fixed Assets for 13.07 and have you come across these?
>
> If not then is it OK to create a JIRA for the labelling and the next
> depreciation amount ? Or if necessary I can add it to an existing one as I
> see that there is a general one 5542 Fixed Asset Management Functionality.
>
> Thanks
> Sharan
>
>
>
>
> --
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> http://ofbiz.135035.n4.nabble.com/Fixed-Assets-Queries-13-07-tp4650201.html
> Sent from the OFBiz - User mailing list archive at Nabble.com.
>

Re: Fixed Assets Queries - 13.07

[Sharan-F <sh...@gmail.com>]

Hi Pierre

I thought the depreciation time periods was included as part of JIRA 5282
but now I look at it again - I dont think it is.

I know it was raised in the discussion on 5542 but I'm now not sure whether
it's been recorded as a potential future requirement.

Thanks
Sharan




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