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.
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