Net book value should be zero when an asset is retired

When an asset is retired and has not been fully depreciated, the net book 
value is calculated as cost basis less LTD depreciation.  Our client believes 
that this is bad accounting practice.  The net book value should be zero when 
an asset has been retired, even if it has not bee fully depreciated.  I 
understand that when running FA reports it excludes assets with a status of 
retired, however, when using smartlist > fixed assets book, there is no field 
to filter out all assets with a status of retired.  This makes it difficult 
for the client to correctly analyse their assets, especially when the 
standard GP reports does not provide the information that is required.  Some 
of our GP consultants also believes that the net book value should be zero 
when the asset has been retired.  I know that Axapta and Navision zeros out 
the net book value when the asset is retired.  GP should behave the same way.

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2
Tang (6)
11/28/2005 1:16:13 AM
greatplains 29623 articles. 3 followers. Follow

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Fiona - you can use Smartlist to get a list of active only assets by 
including a search where "Prorated Retirement Date" "is equal to" "enter 
date" "0/00/0000"  in the Fixed Asset Book smart list.  The Fixed Asset 
general smartlist allows you to use "Asset Status" "is equal to" "Active"  to 
display only active assets.

"Fiona Tang" wrote:

> When an asset is retired and has not been fully depreciated, the net book 
> value is calculated as cost basis less LTD depreciation.  Our client believes 
> that this is bad accounting practice.  The net book value should be zero when 
> an asset has been retired, even if it has not bee fully depreciated.  I 
> understand that when running FA reports it excludes assets with a status of 
> retired, however, when using smartlist > fixed assets book, there is no field 
> to filter out all assets with a status of retired.  This makes it difficult 
> for the client to correctly analyse their assets, especially when the 
> standard GP reports does not provide the information that is required.  Some 
> of our GP consultants also believes that the net book value should be zero 
> when the asset has been retired.  I know that Axapta and Navision zeros out 
> the net book value when the asset is retired.  GP should behave the same way.
> 
> ----------------
> This post is a suggestion for Microsoft, and Microsoft responds to the 
> suggestions with the most votes. To vote for this suggestion, click the "I 
> Agree" button in the message pane. If you do not see the button, follow this 
> link to open the suggestion in the Microsoft Web-based Newsreader and then 
> click "I Agree" in the message pane.
> 
> http://www.microsoft.com/Businesssolutions/Community/NewsGroups/dgbrowser/en-us/default.mspx?mid=f6c75d90-cdd5-42b3-9854-47d3986a41c1&dg=microsoft.public.greatplains
1
LisaRivers (13)
12/1/2005 8:09:02 PM
Reply:

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