Tax Depreciation
Fixed Assets - Tax Depreciation
Tax depreciation tab will be shown only when settings are done in administration panel.
Tax depreciation tab shows data and events linked to the selected fixed asset: when the purchase is made information about it are entered after the entry is confirmed. And when the calculation of depreciation and revaluation is confirmed, it also adds information from the confirmed calculation.
| Date |
Creation date of the event:
- By acquisition it is the date of activation of fixed asset, which is at the same time the date according to which it is established when tax depreciation calculation starts. If in the main window you change the date of activation of fixed asset, the date in this field (for entry type 1 - Acquisition) does not automatically changed. In case depreciation has ben already calculated it was probably calculated for the wrong period. The program warns us about this (see Date of activation has been changed! Should the date in the value adjustment item also be modified? In this case it is mandatory that you verify the validity of the calculated depreciation!). (If date of activation does not exist at teh moment of entry to the register, then date of acquisition of fixed asset is entered in this field - possible modifications of date of activation may be entered subsequently manually.
- in depreciation calculation (type 21, 22 and 23) this is the date when you confirmed the calculation (see depreciation calculation). In the next report depreciation is calculated from the date displayed here!
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| Purchase value |
The amount of (revaluated) purchase value which is:
- the actual purchase value by acquisition of fixed asset
- after the possible revaluation report revaluated purchase value of fixed asset from the report
The value is always entered as a positive amount.
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| Accumulated Depreciation |
The difference between the purchase value and accumulated depreciation is shown as book value.
The value is always entered as a positive amount.
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| Book Value |
We calculate book value as difference between purchase value less accumulated depreciation. |
| Depreciation |
Tax depreciation of the period. |
| Status |
Status of fixed asset. All active fixed assets by default have status AC, nonactive ones (sold or written off and deactivated that is disposed fixed assets) have the status NO.
When the inventory count sheet is created it shall include only active fixed assets. That is those marked for depreciation and revaluation calculation.
NONACTIVE FIXED ASSET CANNOT BE ACTIVATED AGAIN - if the need is such, you have to reverse the deactivation of fixed asset.
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| Related document |
Internal ID of the document that is the base for value adjustment:
Specific documents mentioned above can also be directly opened by double-clicking the document ID.
If you delete the journal entry or depreciation calculation, this does not mean that you deleted this record!
- You can delete the post by first deleting the journal entry for posting and then its ID that can be found in this field. Only now you are allowed to post the item once more.
- Deleting data from depreciation calculation is performed with the restoring of the report.
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| Entry type |
It determines the type of record in the fixed assets register. Types 21, 22 and 23 are created automatically. Others may be entered manually and then posted. For a detailed treatment see topic Entry types.
Entry type tells us about the change posted on fixed asset account.
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Entry types 21, 22 in 23 are used for depreciation calculation and come automatically to fixed asset account after confirmation of depreciation calculation. |
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Users without strengthen and impairment of fixed assets will only use entry type 1 - Acquisition, 21 - Depreciation on acquisition accounts and 6 - Disposal of fixed assets. |
Available entry types are:
- 1 - Acquisition- Acquisition - Debit account
- 21 - Depreciation on acquisition accounts - Acquisition - Debit account
- 22 - Depreciation on upward revaluation accounts - Upward revaluation - Debit account
- 23 - Depreciation on downward revaluation accounts - Downward revaluation - Credit account
- 3 - Upward revaluation on acquisition accounts- Acquisition - Debit account
- 4 - Upward revaluation on upward revaluation accounts - Upward revaluation - Debit account
- 5 - Downward revaluation on downward revaluation accounts - Downward revaluation - Credit account
- 6 - Disposal of fixed asset - no record
- 7 - Reversal of upward revaluation - Upward revaluation - Debit account
- 8 - Reversal of downward revaluation - Downward revaluation - Credit account
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| Invoice no. |
Shows invoice number that represents internal number of received invoice for FA purchase. |
We can call additional columns with right mouse button and add them to spreadsheet. Those columns are: Book value, Depreciation, Depreciation Days, Invoice Number, Depreciation group. Depreciation group is useful especially when deprec. group on fixed asset was changed after depreciation calculations were already made.
