| After Retirement Asset Gain/Loss should be zero [message #390131] |
Thu, 05 March 2009 01:42  |
Arjunn
Messages: 64
Registered: December 2006
Location: Hyderabad/Gurgaon
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Member |
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Hi Friends,
How I have to retire an asset, there after this retirement process asset Gain/Loss amount has to become zero
Can anyone tell the procedure how I have to retire the asset now
Thanks In Advance
Arjun
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| Re: After Retirement Asset Gain/Loss should be zero [message #390161 is a reply to message #390131] |
Thu, 05 March 2009 04:58  |
eric62000
Messages: 1
Registered: March 2009
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Junior Member |
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Hello.
Try this:
1. Create a depreciation method:
Method type: Calculated
Basis: Cost
Life In Months : 1 month.
2. Modify the method of the asset to this new method (1)
3. Make retirement.
4. Calcule Gain/Loss (0 amount).
3. Reaffect the good depreciation method to your asset.
Best regard.
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| Re: After Retirement Asset Gain/Loss should be zero [message #390202 is a reply to message #390185] |
Thu, 05 March 2009 07:38 |
eric62
Messages: 24
Registered: January 2009
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Junior Member |
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In asset User Guide, you can read:
Gain/Loss = Proceeds of Sale Cost of Removal Net Book
Value Retired + Revaluation Reserve Retired.
Net Book Value <> 0 => Gain/Loss <> 0.
If you move the asset to the new method (life in months = 1), the Net Book Value of the asset will be 0.
You put the method 5yrs after your retirement.
I don't see a another method for Gain/Loss = 0.
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