DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Depreciation rates


#1

I am new here and would like to make contribution to the program. It is really good and I think it might be used for medium size companies without any trouble.
I can offer myself to do translation for Bosnian language, also as my experience in accounting and controlling is high I can write to you some suggestions. First I would like to start with depreciation:

The thing is as I could see, there is module depreciation entry. That implies that every month you have to enter manually amount of depreciation.

Do you have maybe option or working on solution that will automatic on first in the month DO calculation of depreciation. Before that every fixed assets would have its own amortization rate, for example 10%.


#2

This would be a nice feature, but may be difficult to implement. Depending on jurisdiction and tax laws, depreciation may not be at a fixed amount each period.


#3

Acctualy the thing is that for each fixed asset you define rate, so it automaticly book cost each month. Everyone could adjust rates depending on their legislation.


#4

My point was that not all depreciation schedules involve a fixed rate. Sometimes, laws allow more or less recovery of investment at the beginning compared to the end of the depreciation period. So even though you might be able to specify a rate, that might not compute the allowable depreciation correctly.


#5

You are correct. This module should be defined in more detail.

What I would allow is to have possibility to enter depreciation rate also 0%, as it can be as part of intangible assets.

But regarding your proposal, it would actually be “one timer” and this case would require to be entered with fix amount. So why not keep both (have rates within monthly depreciation rate) and possibility to enter direct amount decreases or increases as one timer.

Surely, this is only one way of deprecation that is most common as linear. “Speed up” of deprecation rate might be more problematic to program.


#6

Amortization of intangible property should be handled via Intangible Assets tab.


#7

There are many depreciation methods but I will implement the most common ones. Then you will be able to select on fixed asset the preferred method. You will also have an option to make entries manually too as it is now.

If you want to contribute your translation, you are more then welcome. There is a button at the bottom of http://translations.manager.io/


#8

Good news, you dont know when could it be implemented? :smile:
I will join the translation team, I have seen this module.


#9

Sometime this year. Probably 5-6 months from now or so.


#10

Nice I am looking forward for the update!