GP 2013 – Fixed Assets Depreciation Changes Because Fiscal Periods Changed in GL
Managing Fixed Assets seems like such a simple task. However, anyone who has managed FA in Excel will tell you how quickly the asset management can get out of hand, especially if a company is in growth mode.
In Dynamics GP, if you have NOT created a Fixed Asset Calendar, the asset depreciation schedule harmonizes to the GP fiscal periods. If you change the fiscal periods from 12 to 13 or to 26 periods (some companies close every two weeks), then the depreciation calculation can go wild! You may get 26 periods of depreciation!
The big picture is that either you must create a fixed asset calendar to replace the fiscal period calendar, or, you must re-create the fixed asset calendar. This will align the FA calendar to the GP calendar.
To build the Fixed Asset Management calendar
1. Open the Fixed Assets Calendar Setup window. (Financial >> Setup >> Fixed Assets >> Calendar)
2. Enter a calendar ID.
3. Enter a description for the calendar.
4. Mark Build Calendar.
5. Select Fiscal Period Setup or Calendar Year.
6. Enter the start and end of the range of years to build.
NOTE: Fixed Asset Management builds fiscal periods for 100 years prior to and 200 years after the year 2000, so the default range of years is 1901 to 2199.
7. Choose Build Calendar.
If the calendar ID has existing years assigned to it, the years set up for the calendar will be deleted.
Fiscal Period Setup The new years will be built for the calendar based on the entries in the Fiscal Period Setup window. The periods of the calendar are built for the specific calendar ID.
Calendar Year The new years will be built for the calendar based on a calendar year. The years and periods are built to match the Gregorian Calendar for the range entered in the Years fields.
Next you can follow these steps to reset life on all assets
1. Create an asset group to group all your assets:
a. Open the Select Assets window (Transactions – Fixed Assets – Select Assets).
b. Make sure that the From Asset ID and To Asset ID range is set. This range needs to include all assets
c. To create and build a new group, choose New Group, enter a name to describe the asset group and choose OK.
d. Select the newly created group in the Current Group window then choose the Mark button so all assets are marked then choose OK to save the changes.
2. Run 'Mass Change' on your assets:
a. Go to Transactions – Fixed Assets – Mass Change.
b. Select the Asset Group ID you have just created.
c. Click on the 'Book' tab.
d. Select the 'Book ID' where you want the changes to take effect on.
e. Select the 'Asset Class ID'.
f. Select 'Reset Life'
g. Click on 'Apply Changes'
3. Check to see that the depreciation amounts are in harmony with the new Fixed Asset Calendar.
And now you can relax because the Assets are back in balance to the depreciation schedule.
-best practice is to run a test process in a stand alone test environment. If you do not have one, create a test company from the live database and run your test in that environment.
-thanks to the Dynamics GP Community for all the info on fixed assets https://community.dynamics.com/gp.
-thanks to Microsoft Support http://support.microsoft.com/kb/874133 How to rebuild the Fixed Asset Calendar.
Judy Hirst, Senior ERP Consultant for Etelligent Solutions