Change in Depreciation method after Tax Adjustment
For our asset tax book we are in the first period of a new fiscal year.
We have entered a reserve adjustment in the Tax workbench for an asset to last year and the desired NBV and Accumulated depreciation were showing correct on the View Financial information screen. In the Asset Workbench for the tax book, on the same asset, we adjusted the depreciation method from the prior rate to a new rate (both rates are Flat/NBV/Use Fiscal Year Beginning Basis) with the amortization flag checked with a date of the first day of the new fiscal year. We then ran the Depreciation Projection report to see what depreciation will be for the