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Former Member
Nov 27, 2011 at 06:40 PM

Using the same Asset Master Record for similar assets


Dear all,

I would like to ask if it is possible to use the same asset master record for multiple assets which are similar. The assets will be posted in different periods / fiscal years and therefore the depreciation would change and be charged according to the useful life of the individual assets posted to the same master record and which in turn will vary according to periods / fiscal year posted.

For example, an asset master record is created for Vehicles. The 1st vehicle with a useful life of 4 years is depreciated at the start of the year for 4 years. The second vehicle is purchased on 6 months after on the 1st June using the same asset master record. However the depreciation is not worked out over the same useful life of the previous vehicle but is extended for a further 6 periods. Is this possible and how is it done.

Many thanks for any feedback and help.