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Some accounting queries
summerzz
Member Posts: 29
Hello,
i have a few doubts.
1) If we buy the asset at 12th July 2005, do we calculate depreciation for July as one month or only from 12th to 31st July? Which is correct?
2)If the supplier invoice date is June and posting date is july, should we start depricaition from June or from July?
3) if the fixed asset is classifiy as Equipment and depreciation has been calculated for past months/years, can we allow user to reclassify the fixed asset ?
thanks!
i have a few doubts.
1) If we buy the asset at 12th July 2005, do we calculate depreciation for July as one month or only from 12th to 31st July? Which is correct?
2)If the supplier invoice date is June and posting date is july, should we start depricaition from June or from July?
3) if the fixed asset is classifiy as Equipment and depreciation has been calculated for past months/years, can we allow user to reclassify the fixed asset ?
thanks!
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