Hi…
Plzzzzz tell me How can i calculate the depreciation on Fixed asset?
what are the steps for it?
Regards,
Mohit khanna
Hi…
Plzzzzz tell me How can i calculate the depreciation on Fixed asset?
what are the steps for it?
Regards,
Mohit khanna
The method of depreciation and the required percentages and time periods will be done for - Depreciation profiles
The depreciation profiles will be attached to the Value Models
The value model will be attached to the asset group.
the asset group will be attached to the assets…
see GL-> Setup → Fixed Assets
I have already been setup… plzzzzzz tell me how can i calculate the amount for depreciation
Journals - Fixed Asset. Create an appropriately configured journal, go to lines and run the depreciation proposal, then post it.
Go as follows
General Ledger → Journals -->Fixed Assets -->Create Journal Header → Lines–> Proposals → Depreciation Proposal (Select here Value Model/Value Model, Fixed Assets you want to go for depreciation and Date of Depreciation) → OK
You will see automatically calculated depreciation in lines.
Then after getting depreciation related to all the assets post it.
As I am doing the same things but it is not showing… I dont why?
Oh! the reason is you have not ticked Depreciation in Value Model.
Go as follows
General Ledger → Fixed Assets Details → Select that Assets - Click Value Models → Go to realted Value Models → Tick Depreciation. then it will take it.
Thanks
But My Query is still not solve. I suppose my depreciation is not linked with the Fixed Assets. why I am saying this because whenever I acquired my assets the status of Value model gets changed from “Not Yet Acquired” to “Open” but the status of depreciatiom book remains the same as “Not Yet Acquired”.
Please help me
Thanks in advance
Can you tell what you are exactly looking for???
I just want to calculate the depreciation.
I have created Depreciation Profile, attached with the Depreciation Book, After that I attatched depreciation book to value model, then I attached that value model to the Fixed Asset group along with the Depreciation Book and at last attach Fixed asset group to the Fixed Assets.
Then, I acquired the asset by using the Fixed Assets journal. after posting it the status in the Value model gets changed to Open but in the depreciation books it remains the same.
Now tell me what should I do with it.
Regards,
Mohit Khanna
Hi,
you can ask the finance functional consultant in your concern
if financial consultant know about deprication calculation , he would have not asked this question in this forum !
then whts the use of this forum?
Hi Mohit
The Value model and Depreciation books are different. The Value models are used to keep the Fixed Assets data as per Companies acct 1956 and the depreciation books are used to maintain data as per the Income tax act. The trasactions get posted to 2 different layers Current and Tax.
From the steps given by you, you have posted the acquisition transactions in Value model, but not in depreciation books. So, you need to post the acquisition entry in depreciation books alse, then the status will change to open and you would be able to calculate/post the depreciation.
You can also attach the depreciation book to value model, then the trasactions you post for VM gets copied to the Depreciation book tab of the journal (where you can change it, if required) and post to both VM and DB in one go.
Regards