In the event of working according to Russian legislation, it is the option used to stop monthly depreciation calculation of fixed assets temporarily. It is located in F9/right mouse button menu of fixed asset records. After stopping operation, for related fixed asset, the depreciation calculation can be started again.
When "Stop Depreciation" option is used, Fixed Asset Depreciation Stopping Dates window is displayed. The fields and functions on the window are:
Start Date / End Date: The date range in which depreciation calculation will be stopped is recorded from Start Date and End Date fields. When stopping period is finished, calculation is continued including specified end date. In this case, the end date is also depreciation calculation starting date.
Description: The field that is used to record explanatory info about stopping transaction.
G/L Table / Tax Table: Used to determine the type of depreciation table which will be stopped within specified date range. Even if start and end dates are specified, when one of these fields is not marked, stopping operation cannot be performed.
Note: For a stopped depreciation table, increase/decrease in fixed asset value can be specified, expense assignment transactions and association thru invoices can be performed.
Warnings:
- More than one record cannot be defined in the same date range for the same table. In this case the application warns user with "There is another stopping transaction related to the same date range." message.
- If there is depreciation calculation within specified date range, stopping transaction cannot be performed. In this case the application warns user with "There are depreciation records within this date range" message.
- If depreciation is calculated after stopping date, stopping record cannot be deleted. In this case the application warns user with "There are depreciation records within this date range" message.
Tax Legislation Parameters in Fixed Asset Records
The parameters that will be valid when taking depreciation tables are recorded by Tax Legislation Parameters option located in the F9/right mouse button menu of the fixed asset record.
Depreciation Type: The field used to specify the depreciation type that will be applied to fixed asset. Two types of depreciation can be applied:
- Normal
- Descending
The depreciation type specified here is considered as default in depreciation calculations.
Depreciation: The elapsed time starting from depreciation separation over fixed asset till the completion of depreciation separation.
Revaluation: In this field it is specified whether the fixed asset will be subjected to revaluation or not. Tangible Assets subjected to depreciation can be subjected to revaluation as well. The organization that keep the ledger appropriate for balance sheet system and establishments which have operations in foreign countries, can perform revaluation for their fixed assets in within their realm.
When revaluation is performed, the assets take part in balance sheet in high value and depreciation can be parted over revaluated value. Revaluation coefficient is determined by Ministry of Finance and renewed every year.
Revaluation is performed for each fixed asset separately. Revaluation is not done for the assets purchased within the same year.
Revaluation Depreciation: In this field it is determined whether or not depreciation will be applied to revaluation amounts. The selection here is transferred to fixed asset invoices as default.
Depreciation Start Date: The field is used to specify the date that the depreciation calculation will be started.
Pro-rata Depreciation: Pro-rata depreciation is the depreciation calculation performed by considering the date range started from the fixed asset purchasing date till the end of the year (number of mounts). At present, the pro-rata depreciation is only valid for the passenger cars used in companies. For the all other fixed assets except passenger cars, full year depreciation is parted. Half of the passenger cars' costs are accepted as expense. The expenditures, which increase economic value of passenger cars, are included to the cost; maintenance expenditures are not included to the cost.
Tax Expense Type / Tax Expense: The tax expense calculation defaults. This field contains the following options:
- Rate
- Amount
According to the selection here, the rate or amount is specified in tax expense field.
Tax expense G/L codes for the fixed assets, is assigned by using Tax Expense G/L Codes option located in the F9/right mouse button menu of the Fixed Asset Records list.
Previous Period Information for Tax Legislation and Accounting Legislation
Fixed asset previous period information is viewed by the following options located in the F9/right mouse button menu of the fixed asset record:
- Previous Period Info (Accounting Legislation)
- Previous Period Info (Tax Legislation)
The revaluation totals and accumulated depreciation amounts of fixed assets in hand (when the program started firstly) are recorded as opening data by this window with reporting and local currency amounts. Afterwards, the information of these fields is transferred automatically at the end of the performed transactions.
Depreciation and Revaluation Tables
Depreciation tables are prepared as of annual periods and shows the depreciation applied to fixed asset, revaluations and other information related to data. Depreciation and revaluation tables perform affiliated with fixed asset records. The table can also be taken by alternative parameter values beside the values entered by record window. Depreciation and revaluation tables can be taken by using the following options located in F9/right mouse button menu of fixed asset records list:
- Depreciation Table (Accounting Legislation)
- Depreciation Table (Tax Legislation)
The depreciation table is taken after determining the calculation year and month by the window displayed by "Calculate" option.