Re: Accumulated depreciation not rolling forward

knowyourrole · ‎04-09-2023

Hi all,

Client had about 50 fixed assets placed in service last year (2021), no section 179, no bonus, most assets are 5-year property. I rolled the client to this year - I see all the asset entry worksheets with all the assets. But only current depreciation is calculating - the accumulated depreciation column is blank for all assets. Did I miss a step when rolling the client over? Or something else I'm missing?

Thanks in advance!

Skylane · ‎04-09-2023

Did you check asset history?

If at first you don’t succeed…..find a workaround

taxes96786 · ‎04-10-2023

Date placed in service may be the cause

Terry53029 · ‎04-10-2023

If you transferred client early (Jan) program doesn't work very well. Most of the experienced users wait until client come in before transferring, Try deleting client, and transfer again.

knowyourrole · ‎04-10-2023

Prior depreciation is showing up in asset history. It's just not showing up on the depreciation report. Strange...

knowyourrole · ‎04-10-2023

I would try deleting and transferring again, but I've already paid (pay per return) to get the business extension file. I don't want to have to pay again for the same client.

Skylane · ‎04-10-2023

What you see is what you get. Asset enters worksheet shows current depreciation…. Asset history shows accumulated and history by year. You can print reports if you need them.

If at first you don’t succeed…..find a workaround

knowyourrole · ‎04-10-2023

Yes, the workaround was manually entering accumulated depreciation in each asset entry getting the amounts from asset history. Just not understanding why the amount wouldn't feed automatically, reducing risk of manual entry error.