Okay here's a fun one. importing fully depreciate...
# fixed-assets-mgmt
p
Okay here's a fun one. importing fully depreciated assets. Depreciation Start Date is December 24th but Depreciation End Date must be year end for accounting reasons. Can I just set asset lifetime as a fraction of one month (ie 31-24=7, 7/31=0.225806452)? Or do I import without scripts on, set the dates to whatever I want and then manually import acquisition and history records? moreover, do fully depreciated assets even NEED acquisition and history records?
k
are you saying that your accounting wants to depreciate that asset from Dec 24th year X to Dec 31st year Y (and not through dec 23rd year Y)? this is definitely not gaap for starters. On another hand you do need to bother with the deprecation dates for fully depreciated assets, you just need to make sure NBV for them shows $0 on the balance sheet