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We have some assets for example one that has a useful life of 10 years. However in the 7th we decide the useful life is 7 years and we want to depreciate the entire remaining value - hence accelerated depreciation. How can this be done? It's not regular depreciation. I was thinking about extraordinary depreciation but not certain it lets you depreciate that way. It's also not special depreciation because it's not in the first year. Any help would be appreciated.
Hi,
Have you tested manually changing / reducing the remaining depreciation periods in the fixed asset book?
This should be sufficient to get the normal depreciation amount increased.
If you don't want to have that and want to use a separate posting type then you can calculate and manually post an extraordinary depreciation.
The only difference will be the timing (one-time vs. spread over the remaining years) and the type (extraordinary vs. ordinary) depreciation that will be posted.
If this transaction/change involves a large amount then better give you auditor a short call to make sure that things are in line with the auditor's opinion. Otherwise, you might need to post corrections later on.
Best regards,
Ludwig
I decided to use extraordinary depreciation thank you
Hi sidrakhan,
Many thanks for the update.
Is there something that is left 'open' / not answered for this thread?
If this is not the case can we get the answers verified to have this thread completed?
Many thanks,
Under review
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