Good morning Adam,Thank you for the email dated 19th of July 2021.We have set up a 52 week calendar and tried to get IFS to pick that, but it already has a default calendar and we are unable to replace this. Please see below: How can we set the new calendar as the default so it will override the monthly calendar. Also if we want to use the customize in depreciation methods: Kindly help with the above. Thank you
Hello Adam Please see example below as requested:The acquisition values of a Motor Vehicle is £14500, Useful Life 3years. Depreciation calculation will be:Annual depreciation = 14500/3 = 4833.3333 Weekly depreciation = 4833.3333/52 = 92.9487 (we always use 52 weeks, even when there is 53 weeks in a year ) Depreciation for a 4 week period = 92.9487 x 4 =371.7948 Depreciation for a 5 week period will be = 92.9487 x 5 = 464.7435 And so on. NB: Just so you know we do use 4 decimal places.
Hello , thank you very much for the info above, we tried exactly what you suggested, but unfortunately it did not work correctly, mainly due to the fact that we calculate depreciation based on weeks, rather than days, consequently, June should be 30 days(6weeks x 5 Days), but when we use the RemValue/RemDays, the system calculates depreciation based on 42 days. Kindly show us the best way to get this resolved. Counting on your utmost assistance. Thank you
Good morning Adam, Yes please our depreciation calendar 4/4/5 is based on days. IFS is not calculating using the 4/4/5 calendar. I hope you can help us on how to get round this. Thank you
Hello Almeida/Fernando, Thank you for your prompt response. Please see our 445 calendar below, unfortunately when we run the depreciation proposal, the system only calculates in calendar months: Jus t so you know our accounting period calendar is the same as our depreciation calendar: kindly help us to know how to get the system to calculate depreciation based on the 445 calendar highlighted above. Thank you
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