In versions of Microsoft Dynamics GP greater than 10.0 SP4, there is a known issue with the 4-4-5 calendar in Fixed Assets (otherwise known as a Manufacturing or Retail calendar). This issue causes overstated depreciation in the year in which a 53 week year is necessary. Mathematically, the overstated amount will show as the expected depreciation amount times 13/12. For example
If the periodic depreciation should be $1000. The overstated amount will be:
$1000 * 13/12 = 1083.33
When this occurs, there are two workarounds to the issue depending on your version:
Workaround 1:
For versions Dynamics GP 10.0 and Dynamics GP 2010, support has developed a custom chunk file to resolve the issue. If you are on these versions, please contact Microsoft Dynamics GP Support for the file and instructions on use. This case will not be charged/decremented as this is related to a known issue.
Workaround 2:
For Dynamics GP 2013 and Dynamics GP 2015 you can resolve the problem through the following steps. Note that it is recommended to take this action in a test company first per the following article:
KB 871973 How to set up a test company that has a copy of live company data by using SQL Server 7.0, SQL Server 2000, or SQL Server 2012
https://mbs.microsoft.com/knowledgebase/KBDisplay.aspx?scid=kb;EN-US;871973
1. Go to Financial >> Setup >> Fixed Assets >> Calendar
a. Select your calendar
b. Select the 53 week year.
c. Mark the Short/Long Year option.
d. Leave the Depreciation Percentage at 100%, save your changes, and close the window.
2. In Dynamics GP click Transactions, point to Fixed Assets, click Select Assets, and then click New Group. Name the group, and then click OK.
3. Under Current Groups, click the newly created asset group, click to Mark, and then click OK.
4. Click Transactions, point to Fixed Assets, and then click Mass Change.
5. Select the newly created asset group ID, click the Book tab, select the book ID, select Reset Year, and then click Apply Changes.
6. In the following message, click OK:
“Are you sure you want to apply changes to group (New_Group_Name) “
7. Close the window.
8. Review the depreciation results. If these come out as expected, repeat the above steps against the live company.
Cheers,
Ken Hubbard
Microsoft