Overview: We did an inter-company asset transfer in 2015 and now have some complications. During the process we learned our period control was not setup correctly. Now with the period control fixed, all current transfers are working appropriately.
However, we are left with several assets overstating depreciation. The assets posted value adjustments of planned ordinary depreciation on both the transferring assets as well as the receiving assets. (This does not occur now that the period control is fixed.)
1. The transferring assets are essentially zero, but retired and not to be posted against.
2. The receiving asset is showing a Value Adjustment of the transferred depreciation and a full year of depreciation. The base value of the receiving asset is correct, therefor doubling 2015 depreciation.)
We attempted to post unplanned tax depreciation against the asset. This did not work.
How do I remove, alter, change, and/or manipulate the Value Adustment on all of these receiving assets?
Would it be affective to go into the master data and change this? How would I do this? We are pressed for a fix.
Example:
Asset 1 (Sending Asset):
Acquisition 10,000 (01/21/2015), Depreciation of (416.67) as of 09/30/2015
Transferred out 10,000 09/30/2015 and add value adjustment of 416.67.
Asset 2 (Receiving Asset):
Rcvd Tranfer 10,000 and less Value Adjustment (Plnd ord depr) (416.67). 09.30.2015
Calc Example Asset 2:
Current: Should Be:
Acq Value: 10,000 10,000
Less:
Special Bonus50%: (5,000) (5,000)
Base Value: 5,000 5,000
Less:
Depreciation 2015: (500.00) (500.00)
Transfer Depr (Val Adj) (416.67) 0
Net Book: 4083.33 4500.00