Posting Fixed Asset Depreciation to Project

[Former Member]

Hi gurus

I was hoping that someone is able to help me with this functionality question - is it possible to assign a fixed asset to a Project to allow for depreciation to be posted to that Project ?

Thanks and regards

Chris

[RPrabakar]

Fixed Asset comes with life and dep rate (mostly runs for couple of years). Project will have shorter life it may not be possible keep different life at asset class level. Ideally you should create assessment cycle for this specific needs.

Allocate the depreciation from CC to Project WBS post depreciation run.

Hope this helps.

[Former Member]

Hi Chris, when you say Project, do you refer to WBS element?

[Former Member]

Yes, I want to assign an asset to a Project and Project Task in the ByDesign system, the task I believe is an WBS Element.

When creating a Fixed Asset there are options for Overhead Projects but I want to assign an asset to a Customer Project linked to a Sales Order (Sales Integration) but this doesn't seem to be an option.

Any help would be useful.

Thanks and regards

Chris

[Parveen-Kumar]

Hello Chris

Currently system would only alow cost collecting and direct cost project – no sales projects. The depreciation has to be posted to the depreciation account and not to cost of sales.From business point of view, assigning a sales project to asset doesn't make much sense and hence customer projects are not allowed.

Can you please explain the business case to assign the customer project to an asset?

Thanks

Parveen Kumar

[Former Member]

Thanks Parveen

The situation is that a Customer Project and Sales Order is created for a long term project and as you'd expect a number of services and materials are used and then billed.

In this example a number of expensive assets are purchased specifically for the project and the requirement is to depreciate the costs monthly to the project so that the cost of the asset is held on the project that uses the asset and if part of the contract can bill the service of the asset.

Does this explain the business scenario?

A work around I can think of is to post the depreciation to a cost centre and then, if possible, run an allocation cycle to post the cost from the cost centre to the project.

Regards

Chris

[marlene_katzschner]

Hi Chris,

the proposal would not work, because you can post the costs to a project.

Billing this costs would currently not yet work, because currently projects costs booked by a journal entry voucher are not displayed in the (manual) project invoice request.

We plan to develop some enhancements here in one of the next releases.

Best regards

Marlene

[Former Member]

Thanks Marlene

I'm not sure of my work around now.

Need to have a re-thing - my requirements are to have the costs against the cost centre of the project and then ensure that there is a service on the sales order that represents the asset/equipment billed to the customer.

Cheers

Chris

[former_member685152]

I have the same case right now and i want to post FA Depreciation to project task

how can i do this ??