Sharan Foga created OFBIZ-5612:
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Summary: Fixed Asset Functionality - 13.07
Key: OFBIZ-5612
URL: https://issues.apache.org/jira/browse/OFBIZ-5612
Project: OFBiz
Issue Type: Bug
Components: accounting, specialpurpose/assetmaint
Affects Versions: Release Branch 13.07
Reporter: Sharan Foga
Priority: Minor
I’ve done some testing in for Fixed Assets on 13.07 and have come across the
following:
1) No Accounting Transaction at Asset Creation
When you create an asset then you need to record the purchase cost in the
general ledger. The transaction is normally something like (Debit Cash / Credit
Asset Account).
When you setup a depreciation method there is a link to create the depreciation
accounting entries but this type accounting transaction link to create the
accounting transactions related to a new fixed asset doesn’t currently exist.
The workaround is to manually create the transactions – so this would be
probably classed as “nice to have”
2) No Monthly or Quarterly Depreciation
OOTB depreciation runs on an annual basis but I know that there are many
companies that run depreciation monthly or quarterly.
3) Possble Incorrect Labelling
On the Depreciation screen there is a “Depreciation history” section. When you
run the depreciation for an asset this section gets updated. I have found that
there is a label in this section called “Depreciation” but the value displayed
is NOT the depreciation amount but in fact the updated Net Book Value of the
asset (once the depreciation has been deducted).
In my example I created an asset with purchase cost 900. I set it up with a
life of 3 years and straight line depreciation method. In theory this should
depreciate the asset at 300 per year.
After running the depreciation for the first year. The depreciation should be
300, the accumulated depreciation should be 300 and the net book value of the
asset should be 600 (instead of 900 because 300 has been deducted).
Looking at the Depreciation History section I get:
Purchase Cost = 900
Depreciation = 600 (Depreciation should be 300. The Net Book Value is
600)
Date Acquired: 1st March 2013
Expected End of Life: 1st March 2016
Next Depreciation Amount = 150 (which I also have a query on below)
I think this may be linked to the Edit Fixed Asset detail screen where there is
also a “Depreciation” field and when depreciation is run this is also updated
incorrectly updated with the Net Book Value.
4) Next Depreciation Amount
There is another value here called “Next Depreciation amount” and it seems to
just display a value that is half of the last depreciation amount. (My
depreciation amount was 300 and it displays half of that 150). I’ve tried this
with other values and it consistently is adds a half of the actual depreciation
value to this field.
Should this be the value of the next projected depreciation amount (eg 300) or
is it being used to hold the depreciation to date (so would update depending on
which day you viewed it)?
5) Fixed Asset Type GL Mappings
In the GL Type defaults (under Organizational GL Settings), there is a Fixed
Asset Type GL Mapping.
In this the drop down selection for the Loss GL Account is restricted to the
601000 – 650000 account range but the LOSS ON SALE OF FIXED ASSET Account is
823000 so you cant actually select the correct account to use.
This is also the same on the Fixed Asset Depreciation screen if you want to
select the Loss GL Account in the GL Account Mappings section.
6) Asset Creation – Party Lookup
When you create an asset the Party ID lookup is restricted to ‘Person’ which
means you cant look up or select “Company” as the asset owner.
There is a workaround to just type in the exact party ID, assign the role and
click Update!
I'll continue testing and add anything I come across to this JIRA.
Thanks
Sharan
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