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Reply from aftabmohiuddin on Sep 3 at 2:24 AM Thanks for your support, well the addtional amount posting is not being done by FI document, it is basically being done by capitalization of cwip asset created for the investment in that particular machinery, now work is completed and life of machinery is re-validated.
I agreed the best way of creating is through sub-asset but sometimes it gets difficult to physical verification by the auditor. So that's why adding this value in old asset.
Can you please guide me, is there any way to link the parent asset with child ( sub asset)? This would help us in physical verification of asset as well.
Thanks
| | | ---------------Original Message---------------
From: aftabmohiuddin
Sent: Tuesday, September 02, 2014 8:40 AM
Subject: Acquisition in Old Zero Value Assets And Depreciation
Dear All,
We have zero book value asset fully depreciated in july 2013 and now in this asset we have booked some cost, when I run depreciation in July 2014, it is taking value from old period (Acquisition date) instead of July 2014 depreciation expense.
For example, I booked 10,000 rupes in July 2014 and run depreciation in July 14 the as per straight line monthly depreciation should come 83 rupes,
Thanks
Aftab |
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