Asset Migration- Accumulated Depreciation Not Accounted for assets with NBV=0
Hi,
We had migrated assets as per a previous discussion: FA Migration- Close old book and load assets from the old book into the new book: How to do it?
We have some cases in the new asset book where :
Current Cost= Accumulated depreciation (Both are same so that NBV=0)
The accounting entries as per the asset addition was as follows:
Debit: Asset Cost Account
Credit: Asset Clearing Account
We did not find any accounting for accumulated depreciation. The question is why? Because now we are facing a situation where in GL we are not finding any balances for the accumulated depreciation.
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