Hi Experts, We are facing one issue regarding fixed assets.
We are having WDV/reducing balance method for depreciation in Byd system which has standard depreciation percentage.
Now as per Companies Act, 2013, Govt has defined useful life of different classes of assets and depreciation percentage can be taken from gross price and useful life.
e.g. Plant & Machinery 15 years, Building 30 years, computer 3 years, etc. Residual value shall be 5% of acquisition value.
Example: Bought one laptop Net Book Value 50000 on 1.1.2019
Salvage Value 5% & Remaining useful life 3 years
Depreciation Percentage will be calculated through below formula
= 1-((2500/50000)^(1/3)) = 63.16%
This percentage can be different for remaining years of same asset.
Can you suggest A method so which would automatically calculate the depreciation rates based on the useful life entered on each assets in Sap Byd.