I am calculating depreciation using the depreciation worksheet but for new assets it is using the start date per report range
The challenge here is that new assets will be depreciation from the start date given on the report.
If possible, why not include in the logic of the calculation a formula that looks whether the start date given on the report is earlier than the purchase, if earlier then calculate days from the date of purchase.
The current depreciation worksheet uses a straight line approximation of residual value (exponential) depreciation. The straight line approximation only equals the exponential depreciation when calculated for one year.
So to use it you need to create a new worksheet for each financial year.
I am not sure if you understood what I am asking for. Let say for example my financial year starts on the 01 March 2021 and ends on the 28 Feb 2022. When I run my report I will select the corresponding dates.
If I bought an asset, lets say on the 1st of June 2021, the worksheet does not take it account that in the list of assets its calculating depreciation some were bought during the year. It will simply calculate for the whole period.
I am suggesting that in its logic, it should then look for such assets, if found then it should calculate depreciation from date of purchase.
Multiple reports may be a work around for the meantime but If one has bought many assets during the year the option may be time consuming.
Maybe this issue may need to be moved to the ideas so that it maybe considered in future. It will save time. One does not have to go into the asset register to look for the purchase date of each asset bought and then create multiple reports to cater for that.
Implementation of automatic depreciation and amortization calculations is currently very limited, almost to the point of unusability. The developer promised improvements long ago, but localizations to comply with legal requirements seem to have taken precedence. Personally, I would not consider the automatic calculations suitable for wide usage.
I see. Maybe there is a way to get it implemented with the localisations. I will try to play around with the report transformations to see if I can get something working that can then be implemented on South African localisation file.
Please do not waste your time, @Panashe_Mlambo. Depreciation and amortization calculations are a worldwide need. Localizations include only features specific to a single country. Furthermore, report transformations are only reorganizations of existing reports. Improvement of depreciation and amortization capabilities will require new routines within the program.