Hi All,
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.
Hello,
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.
@michelle
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.
Thanks again.
