RE: Fixed Assets – Alternate Method
Hi there. I need to setup a depreciation method that will write off 50% of the asset cost in the first year. The trick is that Netsuite needs to calculate the full 50% irrespective of when the asset was purchased. Even if the asset was purchased on the last day of the fin year, it still needs to calculate the full 50% depreciation. I’ve managed to create a formula OC*0.5 that calculates correctly but it is apportioning the 50% over the year – which is not what I want. It needs to write off the full 50%.
Rookie Asked on February 4, 2021 in Fixed Asset Management.
could you do an asset revaluation > write-down 50%
purchase at $6600, write down 3300. the remaining 3300 will depreciate over the life span using the depreciation method selected.