Fully depreciated assets re-appear in the Fixed Asset Summary Report with a NBV

Article ID

ias-8635

Article Name

Fully depreciated assets re-appear in the Fixed Asset Summary Report with a NBV

Created Date

15th February 2010

Product

IRIS Fixed Asset Register

Problem

Fully depreciated assets re-appear in the Fixed Asset Summary Report with a net book value Fully written down assets with an initial NBV of zero appear on reports with a NBV and no accumulated depreciation - this should be the other way round where there should be accumulated depreciation and no NBV.

Resolution

Users would be required to ensure that they have selected a ‘Depreciation Policy No.’ when setting the asset up. This can be checked by following the below steps: 1. Log into Fixed Asset Register and select the client. 2. From the Edit menu, select Asset Browser. 3. Click on the ‘+’ sign to the left of the relevant asset category. 4. Highlight the asset and click Details. 5. Ensure that a Depreciation Policy No. has been selected.