Fixed Assets not depreciating

I have uploaded some mid-life FAM Assets Records but I am unable to get them to depreciate, is there a specific setting that I need to apply or look for to get the depreciation journal to be created.?

 

Beginner Asked on April 12, 2023 in Fixed Asset Management.
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It is possible that there may be a specific setting or configuration required to ensure that your mid-life FAM assets records are properly depreciated. Here are some steps you can take to troubleshoot the issue:

  1. Check your depreciation settings: Ensure that the depreciation method, useful life, and salvage value are all set correctly for the assets you are trying to depreciate. Make sure that the asset is also marked as “In Use” and has a depreciation start date.
  2. Check your posting settings: Make sure that you have set up the correct posting profiles and accounts for depreciation. Verify that your posting setup is correct for your company and that the accounts are set up correctly in your chart of accounts.
  3. Check your depreciation setup: Verify that the depreciation calendar is set up correctly, and that the fiscal year is set up properly in your system. Make sure that the fiscal year for which you are running depreciation is open and that there are no posting restrictions.
  4. Check for errors: Look for any error messages in the system logs or event viewer that may be preventing the depreciation journal from being created. You may also want to review the asset record for any errors or warnings that may be present.
  5. Run a test depreciation: You can try running a test depreciation on a single asset to see if it generates a depreciation journal. If it does, then the issue may be related to the specific assets you are trying to depreciate. If it does not, then there may be a configuration issue in your system.
Beginner Answered on May 11, 2023.

Thanks Appreciate the feedback

on May 11, 2023.
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