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