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I have an asset I want to accelerate the depreciation so that it is fully depreciated by the end of the year, what is the best way to do this in IFS?

Hi @suzannec ,

You can change the Estimated Life (Reduce the life) to fit the Object end date in Object> Books tab. 

 

Hope this will help.

Regards,

Akila


Thank you that has helped

 


Hi @suzannec ,

1.Further to above answer,you can also use the Change Object Value window, RMB Line>Change Net Value and Fully depreciate the object at once .

 

 

2.You may set the value as a negative amount.For an example if the Net value of the object is 200,you may enter the value as -200

3.Then you will be directed to this window “Change Net Value-Progress”. RMB Line>Create Transactions >”A” Voucher will be created>

 

4.After that check the object balance in object balance analysis window

BR/Janith