If a fixed asset is sold before it has been in operation for five years, the depreciation bonus should be restored, i.e., it should be included in the company's income. To restore the bonus depreciation, you must set up the Depreciation bonus recoveryregister in the Tax registersform. The restoring of bonus depreciation will affect tax accounting only, so you will have to create and calculate a tax register journal. This tax register journal will contain information about the fixed asset and the depreciation bonus amount, which is a source of tax difference amount.

The new register is a child of the following registers:

  • Calculation of constant tax differences.

  • Incomes - current period.

NoteFor more information, see (RUS) Set up a register to calculate the depreciation bonus recovery.

  1. Click General ledger> Journals> Tax register journal.

  2. Press CTRL+N to create a new register journal, and enter the required details. You can create a new journal only if all previous journals are approved.

  3. Click Linesto open the Register journal linesform. Register journal lines are created with the status as Not calculated.

  4. Select the Depreciation bonus recoveryjournal line.

  5. Click Register calculation> Calculate currentto calculate the register.

  6. Click OKto confirm the calculation. After calculation, the status of the register is displayed as Calculatedin the Statusfield.

    Note Note

    To view the details in the register lines after calculation, click Register linesto open the Register linesform.

  7. Select the Approvedcheck box to approve the register.

  8. In the Employeefield, view or modify the code of the employee who approved the register.

  9. Press CTRL+S or close the form.

See Also