Newly Created Fixed Asset Do Not Capture the Tax Method set on Asset type – JCurve Solutions

Scenario

The tax methods per Asset Type was not captured when creating a new asset under that Asset Type.

Selecting the average convention that will be used to determine the treatment of depreciation during the first year of an asset's depreciation. Conventions are supported for alternate methods only, and the default value is None.

Solution

1. Go to Fixed Assets > Setup > Asset Types

2. Locate the Asset Type with issue and click Edit

3. Go to Other Methods tab

4. Locate the Alternative Depreciation and click Edit

5. FAM Default Alt Depreciation > General tab

6. 1. General tab

Convention (C): Set field to None

7. Click Save