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Reply from SITISIFIR on Jun 23 at 12:54 AM Tq Ken, I'm not an expert in accounting by one have told me, if I'm not accrued for the asset means I understated the asset in our book. :( . For the depreciation, I will start depreciate it using DO date.
| | | ---------------Original Message---------------
From: SITISIFIR
Sent: Thursday, June 23, 2016 12:27 AM
Subject: Fixed Asset Accrual Questions
Hi,
My question is, if we open PO to purchase bulk of fixed asset on 1/4/16, then DO date on 1/5/16, but vendor already invoices me on 30/4/16, should I accrue this fixed asset, or should I capitalized the asset? Another problem is the invoice is also not received at 30/4/16, we only find the amount in their Statement of Account.
If I have to accrue this Fixed Asset, should this accrual consider as part of Fixed Asset or Current Asset?
Please advise. TQ |
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