Accounting entries for partial retirement
Summary:
Currently for partial unit retirements, the entire cost is credited and then the new cost is debited. Is there a way to only credit the retirement amount on one line?
Content (required):
We create an asset with 5 units and cost 1000 in period 1. We then proceed to retire 1 unit in period 2. The accounting entries generated are:
Cost 1000 Cr
Cost 800 Dr
Accumulated Depreciation 3,33 Dr
NBV Retired 196,67 Dr
Why are two rows for cost generated?
The desired accounting is:
Cost 200 Cr
Accumulated Depreciation 3,33 Dr
NBV Retired 196,67 Dr
How can we achieve this?
Version (include the version you are using, if applicable):
22A
0