Trust you are keeping well. I have an issue with the start date of depreciation, or perhaps I didn’t do something.
As per screenshot below, asset was acquired 11 April 2020:
Asset is available for use on the same date:
However, in Depreciation Schedules, first date of depreciation is not 11 April 2020, rather system depreciation starts 11 May 2020. That’s a whole month after “Available for Use” date and “Depreciation Start Date”:
If anyone has encounterd this and resolved it, I will appreciate your kind help.
Yes, that is how it is supposed to work. The depreciation amount in the first row shows the amount depreciated from 11-04-2020 to 11-05-2020.
To know more about asset depreciation, check this link.
Hope this helps.
Thank you for the explanation.
Generally in Nigeria, the Depreciation Start Date is the date the depreciation expense Journal is booked in the accounting entry.
Now, I have a better understanding of the design in ERPNext. I know how to apply the dates in the document to reflect as we want it.