How the system will post a journal for the value in depreciation reserve, when creating a new asset
Summary:
I am creating a new asset where it is a consolidation of existing assets; I have the original cost and accumulated depreciation calculated to 30 June 2024.
When I create the asset, I can trace the accounting for the cost and catch-up deprecation (as expected) but I see no entries for the accumulated depreciation.
I created the asset with an accumulated depreciation of $17,368,857.22, so I am happy with the current value in the Depreciation Reserve – I just can’t see anything in the GL for it (just the 2 months’ worth of deprecation that the system calculated with an amortisation start date of 01/07/2023).
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