Tax depreciation for fixed asset in Singapore

[Former Member]

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

[Former Member · Accepted solution]

Hi Mary,

I'm from Singapore. Here's how you will configure the system.

Create a dep area for Tax depreciation. You should create new Period Control Method (AFAMP) where you will assign 06 period control to acq, add, ret, trn. 06 means start of the fiscal year.

After that, you create a "Dep Key" to assign this period control method. Then in the dep area per asset class, assign this dep key to the tax dep area.

The system will default the start of dep for tax the start of the fiscal year regardless of when it was acquired within the FY.

[former_member245242]

Hi Mary,

I know it's been a long time. I happen to encounter the same issue as yours. Does the solution work? I tried but it seems not working in my case.

Thank you in advance.

Regards,

Sasha

[Former Member]

Hi,

Thank you very much for your help.

Best Regards,

Mary

[santosh_kavitkar]

Hi,

Please find an attached link for your needful:

http://help.sap.com/printdocu/core/Print46c/en/data/pdf/CAINTSG/CAINTSG.pdf

Regards,

Santosh