Fixed Assets - EBS (MOSC)

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Keep the Net book value as Salvage Value for uploaded assets

edited Nov 14, 2014 10:02AM in Fixed Assets - EBS (MOSC) 3 commentsAnswered

Hi All,

We are uploading cut over assets for our client as at 30th September 2014.Here are the information for the one of the asset.

Asset Cost                         18,000,000

Purchase date                       1-JAN-06

Life based Dep Months                36

Accu Dep                            17,982,000

YTD Dep                                    0

NBV                                          18,000

Cutover date                        30-SEP-14

Accumulated Depreciation,YTD Depreciation and NBV (Net Book Value )is submitted by user.

Now user wants to keep the Net Book value of 18,000 without depreciating it.

User wants to keep the NBV up to the disposal of the asset and they wants to record it as salvage value once they are disposing it.

But once we upload the asset and ran the depreciation for the month of Octomber remaining net book value of 18,000 gets depreciated and updated the net book value as zero.

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