Depreciation Methods

John Fodor
John Fodor New Member
Kudos 1 Name Dropper First Anniversary Facilitator 1
in Blackbaud Financial Edge NXT® General Discussions

Has anyone gotten a clear understanding of what is happening to the Depreciation Methods? We got an email that said we will only be able to depreciate as “Straight-Line” or “Do Not Depreciate” and that we should consult our Tax Advisors. Is Blackbaud getting rid of MACRS, Double Declining, etc? Or is this just a miscommunication and we will still be able to depreciate using the other methods, but just in the Database View?

Thank you!

Comments

  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @John Fodor
    Here is what the Help inside FENXT shows when on the Depreication Methods :

    Available depreciation methods include:

    Straight line

    Do not depreciate

    Note: Any existing assets you have with depreciation methods other than "Straight line" or "Do not depreciate," are view-only records.

  • John Fodor
    John Fodor New Member
    Kudos 1 Name Dropper First Anniversary Facilitator 1

    @Kevin Brazell Thank you, Kevin.

    Do you know if the Database View will allow the other methods of depreciation until they are available on FENXT?

  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @John Fodor per this KB Fixed Asset Changes on the changes no, you'll need to convert to straightline anything not using it. Seems all other methods outside straightline and do not depreciate will not move forward.

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