Hi Lori! Thank you for your question! I reached out to the tax expert on our team, and her answer is: You can use an Additional Area - Depreciation Area to calculate depreciation per your tax basis. It will not post to the G/L, but rather just provide another method of calculation and reporting as if you were to calculate with another method. I hope this helps!
Hi, if going live during the financial year eg: financial year 1 Jan to 31 Dec, may i know the Fixed Asset Opening importation is it able to be done on 28 Feb? will depreciation run will affect?
i think no, if you run depreciation run it will accumulate previous period and posted in current period. which is a control on Account that transaction normally not to be back dated.
