Skip to main content
Question

straight line depreciation with salvage percentage

  • July 29, 2024
  • 3 replies
  • 58 views
K
Do Gooder (Partner)
Forum|alt.badge.img+3

hello,

I am trying to setup a depreciation method using method type = straight-line. The requirement is to setup a salvage percentage value (e.g. 55%) assigned to this depreciation method.

When an object is activated (let's assume total cost is 10,000) then IFS should only depreciate based on total cost of 10,000 - (55% * 10,000) = 4,500. 

IFS does provide a salvage field on the fixed asset object page but it is not a percentage. 

I tried using business use percentage (on fixed asset object page) and non-depreciable base value (depreciation method page) and did not get the required results. Any suggestions? 

    3 replies

    T
    Superhero (Employee)
    Forum|alt.badge.img+19

    Hi, 

    I’ve used the salvage value many times with different clients. All clients have expressed salvage value as an amount not a percentage of the asset.   Even when working integrations with other FA systems this is commonly reported as an amount.   Commonly the salvage value is what can be seen as a core charge (expressed as a value / amount). 

    Try using the amount and report any issues.   In your case, you would enter 4,500.    

     

    Best regards, 

    Thomas

    K
    Do Gooder (Partner)
    Forum|alt.badge.img+3
    • kanishknsa
    • Author
    • Do Gooder (Partner)
    • July 30, 2024

    ok Thomas. thanks for the reply. I will follow up with the client and report back any further issues. 

    Ralph Gericke
    Superhero (Employee)
    Forum|alt.badge.img+13
    • Ralph Gericke
    • Superhero (Employee)
    • July 31, 2024

    Let me just add, that you can do the calculation in the field itself.
     

     

    Terms & ConditionsCookie settingsAccessibility statement