Adjustments - Fixed Assets

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Use this form to adjust:

• Depreciation calculated for an asset.
• An asset's depreciable value.
• The offset depreciation (only for Australian companies).

When doing a transfer, Greentree validates that both the Transfer From and Transfer To Asset are depreciated up until the prior period.

For example, you previously had a cost limit on the asset that is no longer applicable. You want start calculating depreciation for the asset again, even though the cap was previously reached.

Reference

Enter a unique reference, up to 20 characters long, to represent the transaction.

Date

This is the transaction document date. It defaults to today's date but you can change it.

Current Period End

This is provided for information only and does not necessarily reflect the period that this transaction is being posted to.

Asset

Select the asset being adjusted. You can use the asset code, subcode or description to select the asset.

Type

Select the type of adjustment you are making. You can select one of four pre-defined types:

• Depreciable value;
• Depreciation;
• Offset Depn (From) - applicable for Australian companies only;
• Offset Depn (To) - applicable for Australian companies only.

Value - Tax

Enter the taxation value of the adjustment (this is the same as the accounting value unless you are maintaining two separate values for the asset). For a depreciable value adjustment, this is the difference between the current taxation book value of the asset, and the depreciable value you want to assign.

For a depreciation or offset depreciation adjustment, this is the value of the depreciation you want to adjust.

You can add a negative sign to the front of the value.

Value - Accounting

Enter the accounting value of the adjustment. For a depreciable value adjustment, this is the difference between the current accounting book value of the asset, and the depreciable value you want to assign. For a depreciation or offset depreciation adjustment, this is the value of the depreciation you want to adjust.

You can add a negative sign in front of the value, depending on the nature of the transaction.

Notes

This is for reference only. You can enter any notes pertaining to the adjustment.

Narration

This is for reference only. You can enter a narration to add more detail about the adjustment. This narration will display in the transaction detail under Asset Maintenance - Transactions.

Balances

This is populated when you select an asset. It shows key balances and dates for the asset. When entering new transactions, the balance is the closing balances (including futures) regardless of the transaction date entered. The date of the last transaction also displays.

If recalling an existing transaction, the balances display as they were at the date of the transaction.

Click the Save icon or press F2 to save and create the adjustment transaction.

When saving an adjustment to depreciation for an asset that posts to a job with no work centre plan and the activity code does not belong to the job's activity group, an error message displays and you cannot save the adjustment.

You can view adjustment transactions for each asset on the Asset Maintenance - Transactions form. You can view the original transaction by selecting the transaction reference on this form. You can edit or delete a transaction as long as the period the transaction was entered in is still the current period, otherwise the transaction is read-only and you cannot change it.

• FA Module Control
• GL Hierarchies - Depreciation Adjustment

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