Capital Allowance Schedule in GP Fixed Assets

(0) Share

Report

Posted on by Ozle

1,750

I am trying to get a capital allowance schedule form GP Fixed Assets, does anyone have an idea of how if this exist within GP or is there any alternative that can be used.

Capital Allowance is really a schedule where tax break is given certain assets, the schedule is expected to calculate and produce the results of the period over which these breaks can be realised by the company.

*This post is locked for comments

All responses (1)

Answers (0)

Community Member Microsoft Employee on at

Like (0)

Report

Re: Capital Allowance Schedule in GP Fixed Assets

Just a quick suggestion - set up another Asset Book called 'Capital Allowances'. In here assign those assets that have capital allowances on them. Depreciate these assets at their capital allowance rate.

Your Corporate book is the only one that can integrate with GP. So, your management accounting depreciation schedule will integrate as per normal.

Then you can also run depreciation on your 'Capital Allowances' book - which won't create any entries in GL, but will give you the Capital Allowances charge for the period, for your financial accounts, and you can make manual adjustments to your accounts based on this (for your tax accounts purposes).

Hope this helps. Maybe there is specific capital allowances functionality in GP - but I'm afraid I'm not familiar with it if there is.

Best regards.