How to achieve this scenario ?
Hi Experts,
My requirement is to run depreciation on declining balance method, have salvage value of the cost and the depreciation should run on cost and not on recoverable cost
Original Cost : 56000
SV : 5% or 2800
Recoverable Cost : 53200
Depreciation for the month of May- as per system : taken on recoverable cost ; 53200*13.91%/365*31 = 628.50
As required ; Should be on Cost : 56000*13.91%/365*31 = 661.59
and at the end when it reaches the Salvage value the depreciation should stop running.
Thanks
Sachin