Adjustment due to Deductible
The Adjustment Due to Deductible form is used to update the acquisition value of Fixed Assets and Small Tools once the final deductible percentage (e.g., VAT) is determined. This ensures that the recorded asset value reflects the actual deductible amount and supports accurate financial reporting.
The form can be accessed using Wizards in the Fixed Assets and Small Tools registers.
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Hint
Examples of how to use the Adjustment due to Deductible form are described on the corresponding pages of the User Manual.
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The Adjustment Due to Deductible form consists of the following functional units:
| Period From |
Specifies the starting date of the period during which the Fixed Assets or Small Tools were acquired. Only assets acquired on or after this date will be included in the search. |
| Period To |
Defines the end date of the period for the search. Only assets acquired on or before this date will be considered in the search. |
| Initial % |
Indicates the deductible percentage that was originally applied at the time of asset acquisition. |
| Closing % |
Specifies the final deductible percentage that should now be applied. The acquisition value and corresponding asset value will be adjusted based on this percentage. |
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(Refresh Button)
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Clicking the (Refresh) button displays the list of acquired Fixed Assets or Small Tools that match the entered date range and deductible percentage criteria. When clicked, it populates all fields in the form with relevant data. |
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(Save Button)
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Clicking the (Save) button, saves the updated acquisition value and its corresponding value adjustment to the Fixed Assets or Small Tools registers. A new entry is automatically recorded in the Value tab with Entry Type 3 – Upward reval. on acquisition accounts. |
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Sel.
(Select)
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The checkboxes for this option are selected by default for all entries that are generated after clicking the (Refresh) Button. This selection indicates which entries are currently marked for adjustment. Individual entries can be manually deselected by unchecking the corresponding checkbox, allowing for precise control over which assets are included in the adjustment process. |
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Inventory No.
(Inventory Number)
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Shows the unique Inventory Number of the Fixed Assets or Small Tools as recorded in their respective registers.
This field is filled automatically when the (Refresh) button is clicked. |
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Invoice No.
(Invoice Number)
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Displays the Invoice Number associated with the asset, as recorded in the Accounting tab. |
| Purchase Value |
This field is automatically populated with a date when the (Refresh) button is clicked. The program retrieves the date from the Value tab, specifically from the Date field. |
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New Purch. Value
(New Purchase Value)
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This field displays the recalculated acquisition value of each asset, based on the final deductible percentage entered in the Closing % field.
The recalculated value helps maintain correct Depreciation Calculations and financial reporting.
This field is automatically populated when the (Refresh) button is clicked. |
| Value Adjustment |
The Value Adjustment field shows the adjusted amount.
This field is automatically populated and calculated when the (Refresh) button is clicked.
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| New Value Adjustment |
Indicates the recalculated Value Adjustment, calculated by applying the final deductible percentage to the asset’s acquisition value.
This field is automatically populated when the (Refresh) button is clicked. |
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Hint
Adjustment of due to deductible is linked to the monthly Depreciation Calculations, although it is typically performed on a yearly basis.
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Warning
PANTHEON automatically selects entries that match the specified criteria by referencing the dates in the Value tab of the the Fixed Assets or Small Tools registers. Only entries with Entry Type 1 – Acquisition are considered during this process.
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