Top 10 Solutions

Change     At some point in the assets life, a critical field was changed and the questions were answered with: "Yes" and then "Current thru date".

Cause      The assets beginning information caused the asset to under-depreciate. This left remaining value without remaining life. An asset will not calculate depreciation if it does not have remaining life.

Fix

PERFORMING A COMPANY BACKUP  PRIOR TO MAKING CHANGES TO CRITICAL VALUES OF DEPRECIATION IS HIGHLY RECOMMENDED BEFORE PROCEEDING

There are two ways to adjust an asset that has run out of life but still has netbook value:

NOTE: This method will include the adjusted amount in DEPRECIATION THIS RUN. For this method to work: It is imperative that the exact ESTIMATED LIFE is calculated from the Placed In Service Date  to the Beginning date plus the desire Remaining Life on each asset. 

Calculated Methods.

• On an asset-by-asset basis, you can add life to the asset:
  
  
  1. Change the Depreciation Method to RV (Remaining netbook Value over Remaining Life). 
     
     
     • See Solution# vafaskb582 How to change critical fields for more information.
       
       
  2. Change the Estimated Life to be the time period from the Placed in Service Date of the asset to the Beginning date plus the desire Remaining Life for the asset to fully depreciate over. 
     
     
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    • See Solution# vafaskb582  How to change critical fields for more information.
      
      
      For Example:
      December Year End
      Placed in Service Date                    01/01/2000
      Estimated Life                                 3 Years
      Desired End Date                            09/2006
      To make this asset end on 09/2006, change the Life to 0609 (6 years 9 months). Notice the extra month included in the final Estimated Life.

NOTE: This method will NOT show the adjusted amount in DEPRECIATION THIS RUN. The adjustment will need to be made manually to the General Ledger.

Manual Method.

• On an asset-by-asset basis,  populate (re-populate, or change) the BEG fields:
  
  
  • BEG Date = Date desired to show item as fully depreciated. (This could be the Current Period or ant other date.)
  • BEG YTD = Current Net Book Value + Current YTD (if any) (This is to insure the Prior Accum amount remains correct after the change.)
  • BEG Accum = Acquisition Value.

NOTE: This method will force the Current Accumulated Depreciation and the Current YTD.  It will also fully depreciate the asset(s).

Note       IMPORTANT:
If you some have asset(s) with remaining value but not remaining life, it is because there is BEG (beginning) information on the asset that has forced this asset to under-depreciate.  Either the asset was adjusted (acquired value was added or life was reduced and answered YES and YES to the prompts to "Update the Beginning with Current") or you imported the depreciation amounts form another system prior to using FAS.  While the above solution is necessary for assets that have already run out of life, you can use the ADJUSTMENTS to force FAS to automatically fix this on all assets.  Please see:  ADJUSTMENTS in the FAS Asset Accounting User's Guide for more information.