net book value negative of 1$

[Former Member]

We have a few assets where they were fully depreciaiton even before their useful life ends. These assets carry a 1$ of excess depreciaiton resulting in a negative netbook value. I have tried to correct it but there does not seem to be an simple way to correct it.

2 things of interest are

1) these assets have a depreciation key that uses straight line over the useful life

2) these assets have the negative net book value checked by default....

I have tried removing the check mark for the negative net book value allowed for the book depreciaiton but it does not seem to solve it.

Thank you

[Former Member]

When you click on the depreciation are do you see there that negative values are allowed, in the depreciation key (base method) you can say to that negative values / Dep after plnd life end are not allowed.

When you change this it will not correct old entries.

With the standard key LINR I have never seen this, perhaps have a look with your key and the standard LINR one

[Former Member]

Both LINR and the custom key look similar. But another thing that i see on these assets are that they have done writeup for the entire accumulated depreciaiton on these assets till 2007 and then posted a negative acquisiton to the exact amount of writeup...

considering these assets are fully depreciated in the year 2007...these is no net book value. but anegative value of -1 which gets reversed by depreciaiton posting at the end of the useful life...2012...

I am looking to see why the negative net book value and then is there a way to clear either by depreciaiton etc.

[Former Member]

here is the depreciation calculation for the above issue. Can someone clarify why the section automatic depreciation calculation shows a depreciation of 6704.17 and later changes to 6703.85. This is where it is resulting in a negative value in ordinary depreciation even of there is no net book value.

Calculate depreciation amount

Depreciation key N1

Base value 33520.85

Percentage rate 20.0000000000

No. of depreciation periods 24

Number of depreciation periods in the fiscal year 24

Depreciation amount 6704.17

Automatic depreciation determination

Depreciation amount 6704.17

No. of depreciation periods 24

Depreciation amount 6703.85

Determine deprection from calculation key

Depreciation type N

No. of depreciation periods 24

Depreciation key N1

Depreciation amount 6703.85

Calculate depreciation

Minimum value check

Minimum value 0.00

Net book value 1.00

Depreciation amount 6703.85