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

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'''A) Method 1 :'''  
'''A) Method 1 : Simple follow Last Asset Net Book Value from Balance Sheet'''  
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Maintain the Asset Item as below:
Maintain the Asset Item as below:
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'''OR'''
'''OR'''


'''B) Method 2:'''
'''B) Method 2: Follow Original Cost and Acquire Date'''
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Maintain the Asset Item as below:
Maintain the Asset Item as below:

Latest revision as of 10:48, 31 October 2022


A) Method 1 : Simple follow Last Asset Net Book Value from Balance Sheet
Maintain the Asset Item as below:

Asset-FAQ1a.jpg


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


OR

B) Method 2: Follow Original Cost and Acquire Date
Maintain the Asset Item as below:

Asset-FAQ1b.jpg


  1. Key in the Cost as Original Cost
  2. Acquire Date set as Original Purchase Date
  3. Useful life = Full useful life
  4. Process Depreciation until 31/12/2021.
  5. Tick Cancelled to the Journal posted from Step 4
Asset-FAQ1c.jpg