Using Opening Accumulated Deprecation doesn't seem to be working how I am expectin it to. However I guess it does not really matter if I set the “purchase date” as the construction date it should not really be an issue.
ATO capital allowance rules as I understand them require that the asset be depreciated at a set percentage based on when the asset was originally constructed. The only integration between the register and the general ledger is via the depreciation process (when depreciation is run periodically) and when there is a sale or disposal of an asset.” The issue is that the FAR start date and the building purchase date are the same in my case (I purchased an existing building as part of a business acquisition). However, adding the Accumulated Depreciation as an opening balance (even as a journal) will not be reflected in the Fixed Asset Register. You could enter these as a manual journal. You could add the cost or Purchase Price of the asset (as suggested) in the accounts and include the balance for Accumulated Depreciation also as an opening balance. Someone called Lawrence from customer care response was “… you may have to track the Accumulated Depreciation and Written down value of the Building outside of the Fixed Asset Register. Strange that Xero support did not mention this when I contacted them. Hi Peter, That’s good to know – thanks for that info.
0 kommentar(er)
