Fixed Assets - EBS (MOSC)

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Incorrect asset calculation after asset cost adjustment

edited Nov 27, 2024 7:13AM in Fixed Assets - EBS (MOSC) 3 commentsAnswered

Dear Experts,

The asset was capitalised under the category "Building Factory Construction" in Jun 2023 with a cost of 72,997,737.00. The system has been calculating depreciation accordingly. As of October 2024, the asset is complete, and therefore, the user needs to update the asset's cost by processing an adjustment transaction for the amount of 650,730,976.00.

Unexpected behaviour of system:

The system incorrectly calculated the depreciation for the period of October 2024, totalling 4,718,816.34. It has been noted that the system has been calculating depreciation on the asset since it was capitalised in June 2023.

Expected behaviour of system:

System calculate the depreciation with updated cost Since OCT-24 instead of calculate the amount since JUN-23.

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