Financial - JDE1 (MOSC)

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Need Fixed Asset help - change life from 84 to 58 months and recalc depreciation

edited Mar 11, 2016 2:30PM in Financial - JDE1 (MOSC) 3 commentsAnswered ✓

My FA analyst quit this week, and I need a little refresher on the proper process to change the life of an asset from 84 to 58 months, recalculate depreciation with an adjustment spread over remaining months.  The asset life was changed from 84 to 58 in Jan 2016.  However the new monthly amount is not what was I was expecting, and the asset will not be fully depreciated at the end of 58 months.

The asset is setup with this in Depreciation-

LT=AA

Depr Method = SL

Life Months = 58 (this has already been changed)

Initial Term = N

Compute Direction = P

Start Depr = 3/2/12

The new end date will be 1/31/17. 

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