Depreciation credit?
Hi all-
We recently uploaded a number of converted assets with 5 year useful lives. We ran depreciation and then realized that they should have 3 year useful lives. So we used Mass Change to adjust the assets and re-ran depreciation and now we've got an enormous credit for the month. Focusing on one asset, I can't figure out why we've now got a credit for the month in which the asset was added.
Would appreciate someone taking a look:
Original cost: 18237.06
DPIS: 1-APR-17
Original life: 5 years
Adjusted to: 3 years
Depreciation for the current month (in which asset added) is now -4244.63