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FA Gurus Help
Posted: Thu Aug 12, 2010 6:11 am
by qamer.financial
Hi FA Guru's
My Client wants to modify net book value even Assets reached the value to Zero. So, they want to keep 1 amount as a assets net book value.
Posted: Thu Aug 12, 2010 6:57 am
by AmanKhan
Rollback depreciation on particular asset & assign salvage value to 1.
Regards,
Posted: Thu Aug 12, 2010 7:14 am
by qamer.financial
Dear,
Its long back Asset which last depreciation ran on sep-09 net book value become zero.
Posted: Thu Aug 12, 2010 10:35 am
by AmanKhan
Its simple, Adjust Asset cost by 1 & assign salvage value 1.
Regards,
Posted: Fri Aug 13, 2010 3:12 am
by yknev
Hi AmanKhan,
How to depreciate particular asset. could you help me.
Regards,
Yknev
Posted: Sat Aug 14, 2010 6:34 am
by qamer.financial
Dear
Can provide the step ? how can we adjust?
Posted: Sat Aug 14, 2010 7:49 am
by qamer.financial
Dear
When i am trying to update the salvage value massage appears is "Salvage value cannot exceed more than Net book value" Presently NOB value is zero.
Please advice
Posted: Sat Aug 14, 2010 10:45 pm
by AmanKhan
1. Rollback depreciation on asset.
2. Increase asset cost by 1.
3. Assign Salvage value 1.
4. Run depreciation. System should calculate 0 depreciation.
Posted: Sun Aug 15, 2010 8:00 am
by qamer.financial
It is necessary to ROLLBACK DEPRECIATION?
It will increase the COST.
So, what we will do is add the amount in current cost then enter the salvage value 1 then Automatically NOB Value become 1.
Its ok please suggest if any missing step?
Posted: Mon Aug 16, 2010 11:26 am
by AmanKhan
Rollback is necessary because system will recalculate depreciation on that particular asset because assets is old one.
Yes, it will increase cost but it is the only possible workaround. You can change current cost by 1& assign salvage value 1.
One more step, After depreciation change/revert current cost again and decrease by 1.
Posted: Tue Aug 17, 2010 8:43 am
by yknev
Hi AmanKhan,
How to depreciate a particular asset.
Regards,
Yknev