Prior Period Adjustment in Tax books for Multiple assets
Our business wants to change depreciation values in tax books for multiple assets in prior period. They dont want to change values at individual asset level using Reserve Adjustments as it will be very time consuming.
According to them, they decide around july/august of current year whether they want to take bonus depreciation for prior period or not. In this situation, mass depreciation adjustment wont work because we are not in first period of current year, and many transactions have takne place in corp book.
Has anyone used any std functionality to meet this requirement?
Thanks,
Tarang