Migration - Accounting Entries
Hi,
While migrating an asset, which has an accumulated depreciation, what will be the accounting entries generated for that asset, in the period in which it is added.
Say if cost is 5000 and accumulated dep. is 2000. And current month dep is 100, then what will be the account ing entries.
Since the asset balance and accumulated depreciation balance is already in GL, if entries are created for both addition as well as accumulated dep, will we have to reverse them in GL??
Thanks
While migrating an asset, which has an accumulated depreciation, what will be the accounting entries generated for that asset, in the period in which it is added.
Say if cost is 5000 and accumulated dep. is 2000. And current month dep is 100, then what will be the account ing entries.
Since the asset balance and accumulated depreciation balance is already in GL, if entries are created for both addition as well as accumulated dep, will we have to reverse them in GL??
Thanks
0