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Fixed Assets - Run Depreciation in Period 13

Clients that run a 13-period calendar are not able to run depreciation in the 13 period for Fixed Assets only.  This limits the client ability to use a 13-period calendar.  13-Period should be able to be used across all modules,

  • Colleen Schils
  • Apr 11 2018
  • Gathering Feedback
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  • Olga Anisimovich (Product Manager Financials Team) commented
    June 11, 2018 16:08

    Hello Colleen,

    In your financial calendar, is the 13 period marked as an adjustment period and has the start date and the end date same as the last day of the 12 period?

    Do you need to post manual depreciation adjustments to the 13 period? Or do you want the system to calculate and post FA depreciation to the 13 period?

    Thank you,

    Olga

  • Mike Lupro commented
    June 11, 2018 18:39

    If the purpose of the 13th month is for adjustments, then depreciation should not run as part of the normal annual depreciation process. 

    But, if a review of fixed assets exposes errors that require correction, there should be a way to post fixed-asset Corrections in the 13th period.

    I'm thinking of this with a control checkbox in in fixed assets preferences page where you can opt in for a 13th period depreciation run.

     

  • Colleen Schils commented
    June 12, 2018 17:58

    Hi, Olga,

    1. The client’s financial calendar has the 13 period has the description as an “Adjustment Period”. The start and end date is not the same as the last day of period 12. For 2017, the period 12 end date is 12/31/2017 and period 13 has the start and end date of 1/1/2018.
    2. The client wants the system to calculate depreciation on any costs that are added to period 13. Therefore, if an adjustment came through after period 12 was closed, they could post the adjustment to the FA subledger in period 13 and the system would calculate depreciation on that adjustment.

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    Colleen Schils
    Client Account Manager
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    cschils@crestwood.com

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