You can apply half of the yearly depreciation for a fixed asset for tax purposes when the asset is sold or otherwise disposed of, regardless of the disposal date.

  1. Click General ledger> Journals> Fixed assets.

  2. On the Overviewtab, press CTRL+N to create a new journal and enter the required details.

  3. Click Linesto open the Journal voucherform.

  4. Create a journal line for the fixed asset that was disposed of or sold.

  5. Click Proposals> Depreciation proposalto open the Depreciation proposalform.

  6. Enter the journal date in the To datefield.

  7. Select the Halve depreciation amountcheck box to calculate half-year depreciation using the depreciation methods set up for Regular CZand Accelerated CZ,with the depreciation year set as Calendaror Fiscaland the period frequency set to Year.

    Note Note

    When you select the Halve depreciation amountcheck box, the yearly depreciation is calculated for the fixed asset. The calculated depreciation is divided by two and rounded off, based on the rounding information already set up.

  8. Click OKto close the Depreciation proposalform.

  9. Post the journal.

See Also