How to Undo a Disposal

2008-09-03T23:13:00Z

Fix

Option 1: Reset Depreciation. (Only option for FAS 50 Asset Account)

From the Detail view of the disposed asset.
Go to: Depreciation | Reset Depreciation.
Select any Book | Select Beginning Date or Period Close Date | Select OK.

Option 2: Delete Last Transaction.

From the Detail View of the disposed asset.
Go to: Asset menu | Delete Last Transaction.
Click Yes to clear the disposal.

IMPORTANT: In either case, depreciation will need to be run for the month prior to the month of disposal before redoing the disposal of the asset, and then run depreciation on the asset for the current month.

How to Create Groups

2008-09-03T23:12:00Z

Fix

In FAS Asset Accounting:

Go to: Customize | Group Manager.
Type a name of the group | Click Add.
In the group criteria dialog box, choose the field desired to range on.
- Example: Select the "Location" field, "is", and value of "Bakery" | Click Add.
Click OK | Click OK again to close the Group Manager.
On the Report Definition screen of any Standard report, select the group from the Group drop down box of the | Click Run Report.
- Example: This report will contain only assets that have the location "Bakery".

NOTE: Once a group has been created, it can be applied to any report in the FAS Asset Accounting program from under the Group Drop Down box on the Report Definition screen.

How to Restore a Company

2008-09-03T23:11:00Z

Fix

Want to watch a video walkthrough? Click Here

Go to: File | Company Utilities | Restore Company | Click Yes.
Browse to the location of the backup file (*.BBK) | Highlight the backup file.
Highlight the Company(s) to restore (Click the Select All button or Hold the <CTRL> key down while selecting multiple but not all companies) | Click NEXT.
Highlight the database to restore the company to | Click Next.
Restore - Purge History option:
- If Purge All Depreciation Events is selected, the Restore process will run much more quickly and should not go "Not Responding".
- If Do not Purge or Purge Depreciation Events Prior to: is selected, the Restore process can a greater amount of time depending on the number of assets and amount of historical information per asset. During the process, FAS Asset Accounting may say "Not Responding". To keep the Historical information on the asset, please wait for the process to complete.
  - WARNING: Do NOT interfere with process. Ending the task presents a high risk of corrupting the database.
Click Restore.
- Once the restore is complete: The Restore - Purge History option will be available again, Click Cancel to continue.

NOTE:

*.BBK files created in FAS Asset Accounting 2004.2 or higher will not restore to version of FAS Asset Accounting 2004.1 and prior.
*.BBK files created in FAS Asset Accounting 2006.1 or higher will not restore to version of FAS Asset Accounting 2005.1 and prior.
*.BBK files created in FAS Asset Accounting 2004.1or prior will not restore with all data into FAS Asset Accounting 2006.1.

How to Fully Depreciate an Under Depreciated Asset

2008-09-03T23:08:00Z

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.
- - 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.

Depreciation This Run Is Too High

2008-09-03T23:05:00Z

Depreciation This Run is defined as the amount of depreciation from the last depreciation run (Prior Thru date on the Depreciation Expense Report) of the asset to the current depreciation run date of the asset. The Prior thru date column represents the date that depreciation was last calculated on the asset and it is the only value which affects the the Depreciation This Run.

For example: If depreciation last ran for August of this year and then depreciation was ran for September of this year, then on the September Depreciation Expense Report, Depreciation this Run for the asset (assuming it is still taking depreciation and is not taking adjustments due to adjustment conventions) will be one month's worth of depreciation.

However, If depreciation last ran for August of LAST year and then depreciation was ran for September of this year, Depreciation This Run will reflect one year and one month's worth of depreciation.

In the case of disposals: When disposing of an asset the disposal transaction perform a final calculation of depreciation at that time. In other words, the Thru date in the asset is set to the end of the month of the disposal.

When running depreciation to the end of the month of disposal and if the Recalculate depreciation on asset you have already calculated through this date: box is checked the program will calculate depreciation not from the last time depreciation was ran on the asset but from the asset's Placed-in Service, Beginning, or Period Close date as those dates apply to the asset.

Fix

To calculate Depreciation This Run for a given period: Run depreciation for the period (or month, quarter or year) before the target period, and then for the target period.

Please note that if the asset is subject to immediate adjustment, this could cause adjustments taken in a recent period to be taken in a prior period. Please see solution ID 1.0.295967.1296889 for more information.

NOTE: If the Prev thru is 00/00/00 or is blank, the Depreciation this Run will represent the depreciation that was calculated from the asset's Placed-in Service date or a new asset depreciated the first time.

Top 10 Solutions

How to Undo a Disposal

How to Create Groups

How to Restore a Company

How to Fully Depreciate an Under Depreciated Asset

Depreciation This Run Is Too High