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Currently, we have one book of depreciation which is integrated with the GLs. Now, for taxation purpose, we are trying to create another set of depreciation books. through web, i could know that even acquisition costs from the existing books can be imported in to new books. But i would like to know if we have a way of defining Depreciation rates at class or subclass levels? The Asset Block provides common depreciation on all the books that are in an asset master. So how do we provide depreciation rate to different books differently other than manually entering it up? is there a way? Please help out.
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Hello Nagendra Shivaswarmy,
Thank you for posting on the Microsoft Forum.
As for your question, you have the ability to copy Depreciation Book data from one book to a new book from the Depreciation Book Setup. For example, you can copy the Acquisition Cost from the Internal Company Book that was already posted throughout the year as you acquired assets to the new Tax Book. The system will populate the FA Journal with the Acquisition Cost entry for each asset based on the Company Book Acquisition Cost when using the Function > Copy Depreciation Book from the Book card setup. The journal can then be posted to setup the applicable depreciable Acquisition Cost for the new Tax Book, which may even be different if Tax requires different cost capitalization rules. This can be done by changing the Acquisition Cost created in the FA Journal prior to posting.
However, with that provided, there is no automated method for assigning Useful Life and Depreciation Method for the Tax Book in standard NAV functionality. It is required that each asset be updated with the appropriate Depreciation Life and Method. You could possibly use the Fixed Asset button > Copy Fixed Asset as you create new Fixed Asset Cards to copy from an already setup asset as you acquire new Fixed Assets. This functionality will at least meet some of this requirement.
Please let me know if you have any additional questions.
Best Regards
Tom
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