Skip to Content
0
Jan 12, 2023 at 04:29 AM

Fixed Asset useful life changed during the fiscal year

44 Views

Our Fiscal year starts in July. We already post 3 months of depreciation through the depreciation run. From the 4th month of the fiscal year, our policy changed and the useful life of the asset increased. This results in changes in depreciation value from the start of the fiscal year, not from the 4th month. Due to this our calculation of the remaining 9 months changed from the actual depreciation.

Will someoone suggest a procedure to handle this problem?