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79Hello,
Due to regulatory changes we have a situation in which we need to change the way we define and depreciate certain fixed assets. The fixed assets that we have at the moment need to be split it's different components and these should be kept as separate Fixed assets. For example we need to break down a property in to component such as facade, plumbing, roof, etc. and these can all have different service lifetimes and different depreciation periods remaining.
Due to regulatory changes we have a situation in which we need to change the way we define and depreciate certain fixed assets. The fixed assets that we have at the moment need to be split it's different components and these should be kept as separate Fixed assets. For example we need to break down a property in to component such as facade, plumbing, roof, etc. and these can all have different service lifetimes and different depreciation periods remaining.
How could we go about such a transition? Can we use the split fixed asset functionality for this or are there other methods? Do we need to create new fixed assets, credit the original/main fixed asset and debit the new components with their respective remaining balance?
Any input is appreciated.
Kind regards,
O
Kind regards,
O
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