On this tab, you can list the fixed assets for write off.
The "Fixed Asset Write Off (create)" form. The Fixed Assets tab
Click Add on the toolbar to append a line to the document.
In the Fixed Asset / ID column, select the fixed asset to be written off; its unique identifier appears automatically.
Click Calculate on the toolbar to calculated the current amounts.
The Gross Cost subcolumn shows the initial cost of the asset as in the Fixed Asset Entry document or its revised cost as in the posted Changes of Fixed Asset Parameters document if the cost was changed.
The Salvage Value subcolumn shows the asset net book value at which depreciation was planned to be stopped.
The Depreciable Cost subcolumn is populated by default with the amount which is the difference between the Gross Cost and Salvage Value. The Accumulated Depreciation subcolumn shows the sum of depreciation amounts calculated in previous periods, since the start of depreciation.
The Current Depreciation Amount column shows the standard depreciation amount calculated for the current period. Note. If the document is created in the last month of the useful life of this asset, the current depreciation amount will be calculated as the difference between the depreciable cost and accumulated depreciation and thus will include the "overlooked" depreciation amounts that were not calculated in due months.
The Net Book Value column shows the current value of the fixed asset calculated as the gross cost minus the accumulated depreciation if write off takes place before the end of useful life was reached. On reaching the end of useful life, it is the salvage value.
Note. You can change the net book value and the current depreciation amount manually if needed.
In the Reason column, you can specify why this fixed asset is written off.
In the Transaction Content column, provide a brief description for the journal entries to be generated for the write off transaction.
The tab toolbar buttons
The Calculate button can be used to refill the data for the listed fixed assets if the data was changed by other documents.