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What is the best way to calculate Balancing Allowance or Balancing Charge (i.e. Net book value of as

edited Dec 1, 2020 12:23PM in Tax Reporting (Direct Tax) 2 comments

Summary

What is the best way to calculate Balancing Allowance or Balancing Charge (i.e. Net book value of asset (TWDV) less Sales proceeds) in TRCS

Content

Hi,

I would like to know what and how is the best way to show the calculations of Balancing Allowance or Balancing Charge in TRCS. 

Item A: Net Book Value (NBV) and

Item B: Sale proceeds 

The asset details related to both item A & B will be integrated from FA Fusion to TRCS. Once this data is integrated, then I would like to show the calculation i.e. A - B in TRCS. 

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