To use the accelerated depreciation calculation, you must set up the following depreciation books for fixed assets:
When you post an acquisition, depreciation, or disposal for the accounting depreciation book, the transaction is duplicated and posted in the tax depreciation book when the fixed asset journal is posted.
On the General FastTab, fill in the required fields as described in the following table.
Field | Description |
---|---|
Code | The unique identification code for the accounting depreciation book. You can enter a maximum of 10 alphanumeric characters. |
Description | The depreciation book description. |
Leave the Derogatory Calculation field blank.
On the Integration FastTab, select the Derogatory check box to integrate accelerated depreciation with the general ledger.
For more information, see Set Up Fixed Asset Depreciation.
Choose the OK button.
On the General FastTab, fill in the required fields as described in the following table.
Field | Description |
---|---|
Code | The unique identification code for the tax depreciation book. You can enter a maximum of 10 alphanumeric characters. |
Description | The tax depreciation book description. |
In the Derogatory Calculation field, select the accounting depreciation book code to indicate that this is a tax depreciation book to calculate derogatory depreciation.
For more information, see Set Up Fixed Asset Depreciation.
Choose the OK button.
The Used with Derogatory Book field in the accounting depreciation book is updated with the tax depreciation book code.
Accelerated Depreciation
Calculate Accelerated Depreciation
Set Up Fixed Asset Depreciation
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