You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Issue with MACRS HY recording last year of depr in Dec of Yr 5 rather than flowing to Yr 6

in Assets 4 comments

Summary: Issue with MACRS HY recording last year of depr in Dec of Yr 5 rather than flowing to Yr 6

Using Oracle Seeded table and Placed in Service date = 1/1/2018

*Computer Equipment

Content (required):

Asset #10312 Placed in service 1/1/2018

In Year 5, Oracle is recording Yr 6 Depr 2775.59 in Dec of Year 5.

Yr 5 Depr Expense 6826.70 (4551.19 + 2275.59)

Yr 5 should only 4551.19

Yr 6 should be 2275.59

If we are required to use MACRS %, how can we resolve this situation? We have several assets that use MACRS HY 5, 7, or 10

We were told that this is a bug within Oracle, but no resolution has been provided. In addition, we cannot use the "WhatIf" reporting do test any solutions due to bug.

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!