Need to understand the tax book migration balances to be taken while migrating assets to tax book
Summary:
we are in process to migrate assets to tax book.
We have taken the cut-off date of migration as 31-Aug-24.
Migrated Trial balance also as of 31-Aug-24.
Tax book prorate calendar is of 2 lines:
01-Apr to 30-Sep
01-Oct to 31-March
Now i wanted to know that how should i take balances of YTD Depreciation and accumulated depreciation (Depreciation reserve) from client?
As they have depreciation reserve balance as of 31-Mar-24 in legacy system.
And we are migrating the FA with new ERP open period as Sep-24.
if anyone can help will be of great help.
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