I am implementing Asset Accounting for a client who has operations in several European Countries.
Ex: Germany, Belgium, France, Italy etc.,
Per customer requirement, We have made the Leading Ledger "0L" as US GAAP accounting principle.
I would like to seek your expert opinion regarding Depreciation Area.
For this, I told them it is a business call during all these years if they have maintained separate books of accounts for Tax purposes, then I said yes we need Tax Depreciation Area which will be mapped to new Non Leading Ledger "ZL - For Tax".
However, the client is asking for confirmation from us, stating if it is mandatory then we will create Tax Depreciation Area and link to Tax Non-leading Ledger else it can be ignored.
Thanks in Advance