on 2011 Mar 02 10:13 PM
Hi,
My Client has some items that are expensed for book purposes but treated as assets for tax purposes. They want to know how or if we can set up an asset with value for tax purposes but zero value for book purposes? Also is it possible to set up assets with different tax and book values?
Any help in this regard is highly appreciated.
Thanks,
Atashi.
Request clarification before answering.
Hi Atashi
Yes, you can.. The procedure is as below
1. Create Asset Master with 100% dep key in Book Dep Area and desired % Dep Key for tax area
2. Capitalize the asset i.e. F-90 or MIGO
3. When you run AFAB, the book dep area will become zero in the very 1st month i.e. the book dep area will get expensed out, where as Tax Dep area will have a value left over as per its dep terms
I dont know if you can post a different APC value in both dep areas... If you dont set the Identical tick in dep area definition, then may be you can
Br, Ajay M
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