On this tab, you can view the depreciation status of list the fixed assetassets for write off.
The "Fixed Asset Write Off (create)" form. The Fixed Assets tab
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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 Initial Cost (Acct. Cur.) column is populated with The Gross Cost subcolumn shows the initial cost of the fixed asset in the accounting currency which cost was specified on accepting the asset to accounting.
The Cost for Depreciation Calculation (Acct. Cur.) subcolumn is populated with the initial cost defined for depreciation calculation in the accounting currency.
The Accumulated Depreciation Calculation (Acct. Cur.) subcolumn is populated with the depreciation amount (in the accounting currency) accumulated on behalf of the fixed asset up to the current periodasset 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 (Acct. Cur.) column shows the standard depreciation amount calculated for the current month in the accounting currency. Click the Calculate button to calculate the current-month depreciation expenseperiod. 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 (Acct. Cur.) column shows the difference between the initial cost and accumulated depreciation for the assetthe 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 provide a brief description for the journal entries to be generated for the writeoff write off transaction.
The
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tab toolbar buttons
The Calculate button is can be used if you need to calculate depreciation for the current month and deduct this amount from the net book valueto refill the data for the listed fixed assets if the data was changed by other documents.