1. I have posted the depreciation until December 2021. How to record my new asset?: Difference between revisions

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1. I have posted the depreciation until December 2021. How to record my new asset?
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'''Answer:'''  
'''Answer:'''  
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Revision as of 06:51, 31 October 2022

Answer:
A) Method 1 :
Maintain the Asset Item as below:

  • Key in the Cost as Net Book Value (as at 31/12/2021).
  • Acquire Date, eg. 01/01/2022
  • Useful life = Balance of useful life to be depreciate
  • Start Process Depreciation from 01/01/2022


OR

B) Method 2:
Maintain the Asset Item as below:

  • Key in the Cost as Original Cost
  • Acquire Date set as Original Purchase Date
  • Useful life = Full useful life
  • Process Depreciation until 31/12/2021.
  • Tick Cancelled to the Journal posted from Process Depreciation