Hi, I've created an asset from Lease. I imported the Depn History, however the history is not sitting in the right place. I can see the periods that have already been depreciated in the legacy system showing to be depreciated, and the periods that need to be depreciated are showing 0.00. Do you know the assets that are created from Lease are treated differently for Depn History? Thanks in advance.

you should not be importing depreciation history for leases, you should be using native depreciation processes. Once you add leases it create JE as a source transaction for adding this asset to FAM and it takes dates from the lease record to use for depreciation. so let the script do its magic

Hi @Karina. It helps. So if you have a mid-life asset and want to show in NS as part of the leased asset, what would you do. Sorry, I'm a bit lost 😞

ah, yes. All you need to do is to upload your leases with all true dates and interest rates. then run JEs for them. Make sure to select the period in which you want to start having leases in NS. Say, Jan. Obviously you have manual journals associated with that. Still, you run depreciation journal in Jan for all leases. Then interest. Then you reverse all your manual journals through Jan. And voi a la, you have your leases in NS

Thanks @Karina let me check again. Hope you don't mind if I bother again

np

@Karina do you happen to have any screen shot of how the lease asset record depreciation is treated ?

It is treated absolutely the same way as any other asset, no difference at all, either operating or finance lease. But uploading depr history still is not the way to add leases :)

thank you @Karina

you use Jan 2023 as the period where you post all transactions. Are you an accountant or system admin?