Adding Partially Depreciated Assets in Acumatica
Posted by Mike Aichinger on January 15, 2016
When completing an implementation, it is important to know how to deal with the assets coming from your Legacy system. This guide demonstrates how to add one partially depreciated asset into Acumatica.
1. To begin, uncheck the “Update GL” setting on the Fixed Assets Preferences form. Doing so will prevent the GL from being affected with depreciation posted in the other system.
2. Once unchecked, save the changes.
3. On the Fixed Assets form (located under Finance > Fixed Assets > Work Area > Manage > Fixed Assets) complete all the information about the assets. Be sure to fill in the “Receipt Date”, “Place in Service Date” and the “Orig. Acquisition Cost” fields.
4. On the Balance Tab, enter the “Last Depr. Period” value and the “Accum. Depr.” value.
5. Save the asset. Once saved, Acumatica creates three transactions against the asset: Purchasing+, Reconciliation+, and Depreciation+.
6. From the Actions menu, select “Calculate Depreciation”.
7. Upon selecting “Calculate Depreciation”, the system will assign the Accum Depr. Amount. In this example, 12,817.44 is assigned in the “Accum. Depr.” as calculated and depreciated. Going forward, the system will calculate the future depreciation.
Please Note: If the calculated depreciation for the previous periods is not equal to the entered accumulated depreciation, the system will calculate the depreciation adjustment and post it the next time you run depreciation for the asset. This action will not generate any batch number because the Update GL setting is unchecked.
8. Finally, go back to the Fixed Assets Preferences and check the “Update GL” setting. Going forward, you can start calculating and depreciating the new item in Acumatica.
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Submitted By: Mike Aichinger, Implementation Manager