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Fixed Assets Merge Capability in GP

  • 1.  Fixed Assets Merge Capability in GP

    SILVER CONTRIBUTOR
    Posted 07-11-2018 03:04 PM
    Our Controller was wondering if you can merge/combine fixed assets within GP?  I don't see a utility within GP or PSTL.  How have other companies handled this situation within GP?

    Thanks.

    Jeff

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    Jeffrey Johnson
    System Administrator
    Gillette Children's Specialty Healthcare
    Saint Paul MN
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  • 2.  RE: Fixed Assets Merge Capability in GP

    TOP CONTRIBUTOR
    Posted 07-11-2018 04:04 PM
    Hi ​@Jeffrey Johnson

    You are correct, there is no tool that will MERGE fixed asset.  There is a "re-naming" tool in PSTL.

    I think the reason for this is complicated, but with calculations of depreciation, etc merging two assets into one becomes kind of rough to program and would not leave a clear audit trail.

    So, you have a couple of options, in my view.  ONE, you can leave them separate as Assets as they are and use the Fixed Asset Modifier to rename one of them to the same as the other with a different Suffix.  In this way you can see them together on reports and group them that way.

    Two, you can open the Asset General Card and assign them both to a new "Master Asset ID" which can then be reported on and grouped together.  OR you can just make one of the extant two assets the Master Asset ID (I'm not a fan of this idea).



    The last option is to manually create a new asset and enter all information manually including adding them together for Acquisition Cost, YTD and LTD depreciation, etc.  BUT you'll run into issues with the calculation of already-taken depreciation and the newly calculated depreciation - especially if they do not have the same Place in Service Date.  Then you would need to "Retire" the old assets, being careful of gains/losses, etc.

    If you use the suffix method or the Master Asset ID method, none of the prior depreciation will be affected, nor will future depreciation calculations.





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    Kindest Regards,

    Jo deRuiter
    "That GP Red Head"
    Advanced Credentialed Professional-Dynamics GP
    Member, GPUG GP Credentialing Exam Committee
    Chairman, GPUG Partner Advisory Board
    "......what isn't she up to?"
    Heartland Business Systems, LLC
    Senior Financial Systems Consultant
    Milwaukee, WI
    770-906-4504 (Cell)
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