13 Depreciation Method
From TrueERP wiki
Depreciation Method
Where do you change how each asset depreciates?
Each asset can be depreciated using either Declining Balance or Straight Line methods and the method is selected in the Depreciation #1 tab (or Depreciation #2 tab if you have selected this one under Depreciation For Transactions in Preferences<LinkId=1063>), in the Fixed Asset screen. When you select the method and the Asset life the actual depreciation schedule immediately displays.
How to select the depreciation method
Select Fixed Asset tab Select Fixed Asset List button Select Depreciation #1 tab (or #2 as above) Under Depreciation Option select from the drop down list the method desired The most common method is Declining Balance because this gives you the bigger expense claim in the early years For Declining Balance method the percentage shown is the figure supplied by the ATO. Most commonly this is 200% as approved by the ATO on 10 May 2006 however you should confirm this with your accountant as it can change from time to time and can also vary for different sized businesses. Enter the Asset Life being the number of years for which the asset is to depreciated and view the Depreciation Schedule
