1. I have posted the depreciation until December 2021. How to record my new asset?: Difference between revisions
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# Process Depreciation until 31/12/2021. | # Process Depreciation until 31/12/2021. | ||
# Tick '''Cancelled''' to the Journal posted from Step 4 | # Tick '''Cancelled''' to the Journal posted from Step 4 | ||
::[[File:Asset-FAQ1c.jpg | | ::[[File:Asset-FAQ1c.jpg |700px]] | ||
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Revision as of 08:01, 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