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https://issues.apache.org/jira/browse/OFBIZ-5612?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=13963986#comment-13963986
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Pierre Smits commented on OFBIZ-5612:
-------------------------------------
Sharan,
Have a look at:
http://www.ifrs.org/Use-around-the-world/Education/Documents/Framework-based%20teaching%20presentations/1.%20Classification%20of%20assets.pptx
Regards,
Pierre
> Fixed Asset Functionality - 13.07
> ----------------------------------
>
> Key: OFBIZ-5612
> URL: https://issues.apache.org/jira/browse/OFBIZ-5612
> Project: OFBiz
> Issue Type: Bug
> Components: accounting, specialpurpose/assetmaint
> Affects Versions: Release Branch 13.07
> Reporter: Sharan Foga
> Priority: Minor
>
> I’ve done some testing in for Fixed Assets on 13.07 and have come across the
> following:
> 1) No Accounting Transaction at Asset Creation
> When you create an asset then you need to record the purchase cost in the
> general ledger. The transaction is normally something like (Debit Cash /
> Credit Asset Account).
> When you setup a depreciation method there is a link to create the
> depreciation accounting entries but this type accounting transaction link to
> create the accounting transactions related to a new fixed asset doesn’t
> currently exist.
> The workaround is to manually create the transactions – so this would be
> probably classed as “nice to have”
> 2) No Monthly or Quarterly Depreciation
> OOTB depreciation runs on an annual basis but I know that there are many
> companies that run depreciation monthly or quarterly.
> 3) Possble Incorrect Labelling
> On the Depreciation screen there is a “Depreciation history” section. When
> you run the depreciation for an asset this section gets updated. I have found
> that there is a label in this section called “Depreciation” but the value
> displayed is NOT the depreciation amount but in fact the updated Net Book
> Value of the asset (once the depreciation has been deducted).
> In my example I created an asset with purchase cost 900. I set it up with a
> life of 3 years and straight line depreciation method. In theory this should
> depreciate the asset at 300 per year.
> After running the depreciation for the first year. The depreciation should
> be 300, the accumulated depreciation should be 300 and the net book value of
> the asset should be 600 (instead of 900 because 300 has been deducted).
> Looking at the Depreciation History section I get:
> Purchase Cost = 900
> Depreciation = 600 (Depreciation should be 300. The Net Book Value is
> 600)
> Date Acquired: 1st March 2013
> Expected End of Life: 1st March 2016
> Next Depreciation Amount = 150 (which I also have a query on below)
> I think this may be linked to the Edit Fixed Asset detail screen where there
> is also a “Depreciation” field and when depreciation is run this is also
> updated incorrectly updated with the Net Book Value.
> 4) Next Depreciation Amount
> There is another value here called “Next Depreciation amount” and it seems to
> just display a value that is half of the last depreciation amount. (My
> depreciation amount was 300 and it displays half of that 150). I’ve tried
> this with other values and it consistently is adds a half of the actual
> depreciation value to this field.
> Should this be the value of the next projected depreciation amount (eg 300)
> or is it being used to hold the depreciation to date (so would update
> depending on which day you viewed it)?
> 5) Fixed Asset Type GL Mappings
> In the GL Type defaults (under Organizational GL Settings), there is a Fixed
> Asset Type GL Mapping.
> In this the drop down selection for the Loss GL Account is restricted to the
> 601000 – 650000 account range but the LOSS ON SALE OF FIXED ASSET Account is
> 823000 so you cant actually select the correct account to use.
> This is also the same on the Fixed Asset Depreciation screen if you want to
> select the Loss GL Account in the GL Account Mappings section.
> 6) Asset Creation – Party Lookup
> When you create an asset the Party ID lookup is restricted to ‘Person’ which
> means you cant look up or select “Company” as the asset owner.
> There is a workaround to just type in the exact party ID, assign the role and
> click Update!
> I'll continue testing and add anything I come across to this JIRA.
> Thanks
> Sharan
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