Hi all, I'm bringing in midlife assets for a client into FAM. I've done the test import in their SB and have brought in the Assets with their depreciation history as at 31 August 2019. However, they are doing a reval for all their motor vehicles. I did a test reval on the vehicles as at 31 Aug 19. NS has updated the Asset Current Cost Value correctly, and therefore the NBV amount was also updated. I ran a deprecation schedule and the remaining depreciation is calculated on the Asset Current Cost. The client's accountant is saying it should be calculated on the NBV instead?

Hi @MB not sure if anyone got back to you on this but I suspect your issue here is depreciation method. If you look at the list of depreciation methods and can see the formulae being used I would expect that you’ll see that the one you’re using for this asset type leverages asset current cost and there’s another one that looks at nbv. Good luck!