Asset Class issue

[Former Member]

Hi,

Due to Companies Act 2013...we are implementing Asset Useful Life for Depreciation.

I have a issue that earlier, there was a Asset Class, LMV (Light Motor Vehicle)... now we have to divide it into 2 parts i.e. TWO WHEELER & FOUR WHEELER.

Now my question is that when we run the Depreciation for this Asset Classes (for old assets)...how it will distribute Asset Dep. Value (due to 2 Asset Classes)...

Please guide.

[Former Member]

Hi,

According to me, the best thing would be to create new asset class for 2 wheelers and then transfer all the 2 wheelers asset from old asset class to new asset class. The new asset class will have all the 2 wheelers with correct useful life and the depreciation key and the old asset class will have all the 4 wheelers values. So by this even the GL's for depreciation and accumulated depreciation will also be changed and proper data can be made available for both 2 wheelers and 4 wheelers assets.

Regards,

Malhar.

[pardhreddyc]

Dear,

The depreciation will run based on the "Depreciation key" assigned to asset master.

As the asset class will help user to populate default values in the asset master of that class.The assignment of asset numbers are controlled by asset class.

While creating new asset class, if you had assigned the depreciation area and the depreciation key to it.

Have you created new assets and transferred the value to new from old, at the time of creating new asset class?If so then system will show as per depreciation key of new.

Check parameters using transaction OAYZ for depreciation keys and areas to new asset class.

Regards,

Pardhu

[Former Member]

Thanks for reply...

We have only created the new Asset Class thru OAYZ and maintained depreciation key with diff. useful life.

We still not created new asset and value transfer from old asset...

Please tell me further process...like value transfer....

[former_member198650]

Hi Anil,

For old assets you have to change the useful life and depreciation key, then system will calculate the depreciation accordingly.

Regards,

Mukthar

[pardhreddyc]

Dear,

If you want to view the assets as per your new asset class, create new assets and transfer the values using transaction ABUMN with in same company.

Make sure all other depreciation parameters for new asset as per your business.

Regards,

Pardhu