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View Patch #50.021.001
Description
Patch ID:
Date Implemented:
Patch Title:
Patch Type:
Request IDs:
Bug
Enhancement
Other
02317 -
Asset Subledge Report report not working as expected -
02316 -
Asset Additions Report report not working as expected.
02199 -
Depreciation Reverse/Replace
01855 -
Asset Depreciation for tax
Symptoms:
01855 Asset Depreciation Tax Books 02199 Reverse and replace depreciation for an asset when the asset is changed. 02315 and 02316 Show diposed assets on asset reports.
Solution:
01855 Two new tabs have been added to the Asset Register application. The first tab is used for collecting tax information about the asset. This tab will include fields for the asset number, addition number, name, description, cost, accumulated depreciation, net book value, depreciation method, asset life, and salvage value. All information on this tab will default to information found on the main asset tab. The only fields enabled will be those directly related to the calculation of depreciation (i.e. the depreciation method, asset life, and salvage value). The rest of the fields are for display purposes only and if they require a change it must be done from the main asset form if permitted. The second new tab is a tax depreciation tab similar to the existing depreciation tab except the information displayed is tax depreciation amounts from the new astotalstax table. This table will initially be loaded with the same data as in the astotals table. When the user changes the information on the tax information tab the data in the astotalstax table will be updated. Tax depreciation is calculated at the same time the journal voucher for regular depreciation is calculated. There are no journal voucher transactions created for tax depreciation. A new parameter will be added to the Asset Disposals Report, Asset Location Report, Asset Sub Ledger Report, and Periodic Depreciation Report. This parameter will ask if regular or tax depreciation is to be displayed on the report. 02199 All fields on an asset, which are currently disabled once depreciation has occurred, are now enabled. When a user changes a field on an asset, which affects the calculation of depreciation for that asset, a message is displayed asking the user if the change is retroactive (an adjusting entry is required) or prospective (no adjustments). If the change is retroactive, the user is informed of the need for an adjusting journal entry, which is created when the changes are saved. The purpose of the journal entry is to reverse all previous depreciation and replace it with an amount calculated using the new asset entries. Once the save button is clicked a journal entry window will popup. This window provides details about the journal entry including the journal entry number, the journal entry description, the transaction date, the depreciation amount to be reversed and the new depreciation amount calculated using the values entered on the asset screen. The transaction date defaults to the current date but may be changed to any date after the last depreciation date for the asset as long as the date is in an open period. The accounts affected by the journal entry are obtained from the asset type record. When the change is prospective the journal entry window does not popup when the save button is pressed. The next time depreciation is calculated for the asset the new entries will be used to calculate the depreciation amount. Changes have been made to the depreciation tab so a user looking at the depreciation for an asset is more clearly able to see changes made to the asset. Extra columns have been added to the depreciation grid including a JV reference number and description, the depreciation method and depreciation factor. The columns will be ordered so that the most important columns are to the left in order to reduce the need for scrolling. Finally a version pull down has been added to the asset screen. When changes are made to an asset record the date, field changed, before value and after value are saved to a new asset table. The pull down on the asset screen contains a version number and the dates of the changes. Selecting one of the versions will cause the program to display how the asset looked on that date. Description of Changes When Adding An Asset A change has been made so that when save is pressed when adding an asset a journal entry creation window is displayed if the asset has an in service date which is in a closed period. The window will contain fields for the journal entry number, the journal entry description, the transaction date and the amount of depreciation that has occurred. The transaction date will default to the first date in an open accounting period. The amount of depreciation will be calculated using the information from the asset being added. The amount may be changed if the calculated amount is unsatisfactory for some reason. The accounts used by the journal entry are obtained from the asset type record. 02315 and 02316 Disposed assets are now shown on asset reports.
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