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Reply from VidhyaDhar on Oct 1 at 11:16 PM Hi
Almost all assets ( barring Land ) are subject to depreciation.
Assets are usually depreciated when they are put to use.
You say that your asset arrives on 31 December of the year. It would
be more helpful if you say whether your fiscal year is a calendar year
( commencing on Jan 01 and ending with the susequent 31 Dec ) or not.
Even if so, you could depreciate an asset.
When is your asset being commisioned and put to use ? If it happens
in the subsequent calendar year, then usually you commence
depreciation from then onwards. On the other hand, if you want to
commence depreciating the asset from December itself, it is possible
by selecting a suitable period control method in the depreciation key
assigned to your asset master record. However, please also take into
consideration any statutory stipulations in vogue for depreciating the
asset in the book depreciation area and I would that you depreciate
accordingly.
Regards
VidhyaDhar
| | | ---------------Original Message---------------
From: Xavier
Sent: Monday, October 01, 2012 10:46 PM
Subject: Depreciate an Office Equipment Purchased On December 31
We purchased an office equipment with an estimated useful life of 5 years. The problem is that the equipment arrives on December 31st. Can we depreciate it? |
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