Adding assets that are fully depreciated in the current month
Hi all
I add an asset in Jun-11 and I add the asset as fully depreciated, how ever when i submit depreciation and created the journal i notice that no depreciation expense journal was created. is this the normal output of such a transaction?
steps to add asset.
1. Add asset by ADi (100,000)
2. Post mass addition
3. modify asset ytd & accum depreciation in the books form
ytd = 100,000 & accum Deprn = 100,000
4. run depreciation Jun-11
5.Create Standard journal
6. Review journal in the GL
7. journals Created
Addition, depreciation
Addidion= dr 100,000 Cost a/c) Cr 100,000(clearing a/c)
depreciation( no journal entries)
How do i add an asset in the current month and make it fully depreciated in the current month, By allowing the system to show depreciation expence journal created?