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Former Member
Mar 31, 2010 at 02:31 PM

Tax depreciation for fixed asset in Singapore

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Dear all,

One of our client in Singapore want to run tax depreciation in fixed asset module as below .

They want to run depreciation with stright line method pro rata by the year of useful life

and the depreciation will be posted only once a year at the first period of the year that acqusition.

(No matter when they acqusition the asset)

For example : if they do acqusition an asset = 300,000 S$ on any date in year 2009 with useful life 5 years,

the depreciation should be posted as below:

Depreciation per year = 300,000/5 = 60,000

31-Jan-09 Depreciation should be posted = 60,000

31-Jan-10 Depreciation should be posted = 60,000

31-Jan-11 Depreciation should be posted = 60,000

31-Jan-12 Depreciation should be posted = 60,000

31-Jan-13 Depreciation should be posted = 60,000

How shuold I can do the configuration for this requirement ? Please kindly advise.

Mary_K