Fixed Assets - EBS (MOSC)

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Additions - Loaded with depreciation amount

edited Dec 20, 2016 4:04AM in Fixed Assets - EBS (MOSC) 1 commentAnswered

Hi

I'm loading assets from legacy system. We are amortizing the NBV, which also has a reserve. When I load the assets, I do not see any accounting for the reserve amount?

Current Period : Oct-16

Cost : 12,000

Life - 10 years

DPIS -  1st Jan 2016

Amortize NBV - Yes

Amortization date : 01-Feb-2016

Accum & YTD - 100

Monthly depr - 100

The accounting entries created for this are:

Dr. Cost - 12,000

Cr. Clearing - 12,000

Dr. Expense - 800

Cr. Accumulated Depr - 800

I do not see any accounting entries for Accumulated reserve amount (100), which I had loaded? Where will that go to?

Thanks for your help.

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