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Adjusting Asset Depreciation monthly — Cloud Customer Connect
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Adjusting Asset Depreciation monthly

Question
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edited Jan 30, 2019 4:29PM in Assets

Summary

I'm looking for a better alternative to doing monthly adjustments to financial details of assets

Content

We have assets recently moved from a legacy system into Oracle and Oracle doesn't have any of their history of changes in cost, life in months or any other adjustments.  Consequently the monthly depreciation amount between the legacy system and Oracle is different.  

For example, let's say we have a $1,000,000 building, 480 life in months, STL method and In Service Date 1/1/06.  Oracle and legacy system will depreciate at $2,083.33. However, in legacy system there was a cost addition of $100,000 on 1/1/11, so the legacy systems' new depreciation amount is $2,321.43

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