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Date: Wed, 9 Apr 2014 07:24:14 +0000 (UTC)
From: "Sharan Foga (JIRA)" <jira@apache.org>
To: dev@ofbiz.apache.org
Message-ID: <JIRA.12707121.1396940640815.84504.1397028254590@arcas>
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Subject: [jira] [Commented] (OFBIZ-5612) Fixed Asset Functionality  - 13.07
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    [ https://issues.apache.org/jira/browse/OFBIZ-5612?page=3Dcom.atlassian=
.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=3D1396=
3900#comment-13963900 ]=20

Sharan Foga commented on OFBIZ-5612:
------------------------------------

Hi Pierre=20

That's a very good point. A lot of the asset creation I've come across is v=
ia purchase order or capitalisation - so not sure if these would be classed=
 as the most common ones. I'll have a go at running some alternative asset =
creation scenarios through.

Thanks
Sharan


> 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=E2=80=99ve 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 / C=
redit Asset Account).
> When you setup a depreciation method there is a link to create the deprec=
iation accounting entries but this type accounting transaction link to crea=
te the accounting transactions related to a new fixed asset doesn=E2=80=99t=
 currently exist.
> The workaround is to manually create the transactions =E2=80=93 so this w=
ould be probably classed as =E2=80=9Cnice to have=E2=80=9D
> 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 =E2=80=9CDepreciation history=E2=80=
=9D 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 =E2=80=
=9CDepreciation=E2=80=9D but the value displayed is NOT the depreciation am=
ount but in fact the updated Net Book Value of the asset (once the deprecia=
tion 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 sh=
ould depreciate the asset at 300 per year.
> After running the depreciation for the first year.  The depreciation shou=
ld be 300, the accumulated depreciation should be 300 and the net book valu=
e of the asset should be 600 (instead of 900 because 300 has been deducted)=
.
> Looking at the Depreciation History section I get:
>   Purchase Cost =3D 900
>   Depreciation =3D 600      (Depreciation should be 300. The Net Book Val=
ue is 600)
>   Date Acquired: 1st March 2013
>   Expected End of Life: 1st March 2016
>   Next Depreciation Amount =3D 150 (which I also have a query on below)
> I think this may be linked to the Edit Fixed Asset detail screen where th=
ere is also a =E2=80=9CDepreciation=E2=80=9D 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 =E2=80=9CNext Depreciation amount=E2=
=80=9D and it seems to just display a value that is half of the last deprec=
iation amount.  (My depreciation amount was 300 and it displays half of tha=
t 150). I=E2=80=99ve tried this with other values and it consistently is ad=
ds a half of the actual depreciation value to this field.
> Should this be the value of the next projected depreciation amount (eg 30=
0) or is it being used to hold the depreciation to date (so would update de=
pending on which day you viewed it)?=20
> 5) Fixed Asset Type GL Mappings
> In the GL Type defaults (under Organizational GL Settings), there is a Fi=
xed Asset Type GL Mapping.
> In this the drop down selection for the Loss GL Account is restricted to =
the 601000 =E2=80=93 650000 account range but the LOSS ON SALE OF FIXED ASS=
ET 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 =E2=80=93 Party Lookup
> When you create an asset the Party ID lookup is restricted to =E2=80=98Pe=
rson=E2=80=99 which means you cant look up or select  =E2=80=9CCompany=E2=
=80=9D as the asset owner.
> There is a workaround to just type in the exact party ID, assign the role=
 and click Update!=20
> I'll continue testing and add anything I come across to this JIRA.
> Thanks
> Sharan


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