1. I have posted the depreciation until December 2021. How to record my new asset?: Difference between revisions
From eStream Software
No edit summary |
No edit summary |
||
| Line 4: | Line 4: | ||
<br /> | <br /> | ||
Maintain the Asset Item as below: | 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 | |||
<br /> | <br /> | ||
| Line 15: | Line 15: | ||
<br /> | <br /> | ||
Maintain the Asset Item as below: | 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 Step 4 | |||
<br /> | <br /> | ||
Revision as of 06:52, 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 Step 4