Backlog depreciation

The overseas branch of a UK company sends returns to UK for input into Sage (Line 50 2012). The branch purchased an asset in July but did not pay for it until October which is when UK first knew of the asset's existence. Asset cost 48000 and would be depreciated straight line over 4 years so depreciation to September should be charged totalling £3000. Sage month end for September has already run so while the asset can be booked:

Dr Assets                           £48000

Dr Depreciation expense      £3000

Cr Cash                              £48000

Cr Accumulated depreciation £3000

There seems no way in which the Sage fixed assets register can record this so how to proceed

Comments

When posting the asset

paulwakefield1 | | Permalink

into the Fixed assets record, enter £45,000 in the "Book Value" box as well as £48,000 in the Cost price box and all should be well. You will need to post your journal above as well of course.

Backlog depreciation

Plymouth | | Permalink

Thanks Paul

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