How to record a fixed asset from a previous years accounts?
I made some large purchases last year that I need to include in this years depreciation, when I add the item as a fixed asset the start date defaults to the beginning of the current years accounts. Any ideas?
When you add your fixed assets to Manager, you can set opening balance as at your Start date which is at the beginning of the current financial year.
Under Fixed assets tab, there is Purchase Cost column, click on the amount 0.00 and change it to what was the original purchase amount of the asset.
Thanks Lubos
But that only works for the current financial year… i need to add the previous financial year assets so the depreciation is calculated correctly and not included as part of this years financials…
I think i’ve found a workaround by adding the items as Jounal entries then adding as a fixed asset… but this doesnt give me the opportunity to record depracition thats already been paid…
Is that possible?
I know what you mean but if your Start date is set to the first day of financial year, opening balances should be excluded from Profit & Loss Statement and other reports. If they are not, it’s a bug that needs fixing.
So you check where (on which report) do you see depreciation as part of this years financials?
If your start date on Manager was on 01/07/2014, make sure this date is set in Settings → Start Date.