HelloI am new to IFS. In July 2019 an asset was added for $2,236,067 with a useful life of 39 years which calculated to $4,778 per month. In Dec 2020, the team changed the useful life to 3 years which calculated the go forward depreciation in December 2020 until now as 62,113 per month. The asset should actually be set to 15 years. We would like to change this for September 2021 which the depreciation will now be 12,423 per month. Is there a way to do this in IFS so the residual and correcting depreciation will take place versus us having to do a manual journal entry? Here is what I need to see happen: Adj needed - support attached$6,812 - $2,620= $4,192 under depreciation$12,423 - $4,778 * 16 months = $ 122,315 under dep$12,423 - $62,113 * 9 months = $ (447,210) excess depNet ($320,703) excess depreciationWhat is the best way to proceed as I need to guide the team. Thank youJen
HelloDo any of you use IFS explicitly for your operating plan and forecasting process for your company rather than just for specific projects? We use IFS as our general ledger. Right now we do data dumps from IFS, do lots of manipulation and pivots to generate forecasts and plans. I wanted to see what is available in IFS today for dynamic forecasting / budgeting with real time updates. If you use something other than IFS for forecasting and budgeting, what do you use? Does it integrate with IFS? I am brand new to IFS.ThanksJen
Already have an account? Login
No account yet? Create an account
Enter your username or e-mail address. We'll send you an e-mail with instructions to reset your password.
Sorry, we're still checking this file's contents to make sure it's safe to download. Please try again in a few minutes.
Sorry, our virus scanner detected that this file isn't safe to download.
