Net Book Value Should be Zero after end of Life

[pranav_gupata]

Hi Expert,

we have an Asset No.2255345 Acquisition Value is.3,51,520 Capitalized on date is 04.08.2007  @ 10.34/% Asset life was 15 Years. now 7 Years 6 months.

till now we have deducted Depreciation till Fiscal 2013. now Net Book Value is Rs. 1,09,503.46.

Note : Earlier We have Depreciated Asset Life  for 15 Years. but as per New Rules as per Company Act should use of Asset Life 7.6 i.e Seven years 6 months.

we have changed the Depreciation Key for 7.6 now  planned value showing Rs, 37,565.65 -.  and Net Book Value Showing : 71,937.81.and last year 2013 balance book value showing : 1,09,503.46. 

System should suppose to show planned value for the same i.e 1,09,503.46. after change the Dep. Key.

and Net Book Value should be Zero. in fiscal year 2014

see the screen shot below.

Kindly help where we have to change the settings for achieve this issues.

Kind regards

Pranav Kr. Gupta

[former_member198650 · Accepted solution]

Hi Pranav,

Earlier you have posted depreciation based on percentage. Now you want to calculated depreciation based on useful life. So first create a depreciation key which should calculate based on useful life and change the depreciation key and useful life for the asset. After do changes then run AFAR for it and check the impact.

Regards,

Mukthar

[pranav_gupata · Accepted solution]

Thanks Mukthar Sir.

Problem Resolved.