Hi ,
I have a requirement to depreciate fixed assets 100% at the purchase. Does anyone have an idea how to set up a depreciation method to depreciate the asset 100% at the purchase period?
Best Regards,
Dulanjana
Solved
Fully Depreciated at Fixed Assets at Purchase
Best answer by DavidEichner
If you are in the United States, there is something called Sec 179 depreciation which allows for immediate 100% depreciation in the year purchased.
“The asset cost that you treat as an expense and deduct in the first year the asset was put into use, instead of depreciating the full cost of the asset over its useful life. This amount is based on Section 179 of the United States Internal Revenue Code, which has some limitations and can vary from year to year.
This column is available if you have selected the Sect. 179 check box on the Depreciation tab of the Fixed Asset Classes (FA201000) form for the class and book associated with the asset.
This column is not available for a non-depreciable fixed asset (one for which the Depreciate box is cleared on the General tab).”
U.S.-Based Fixed Asset Depreciation (acumatica.com)
Best,
David
+13If you are in the United States, there is something called Sec 179 depreciation which allows for immediate 100% depreciation in the year purchased.
“The asset cost that you treat as an expense and deduct in the first year the asset was put into use, instead of depreciating the full cost of the asset over its useful life. This amount is based on Section 179 of the United States Internal Revenue Code, which has some limitations and can vary from year to year.
This column is available if you have selected the Sect. 179 check box on the Depreciation tab of the Fixed Asset Classes (FA201000) form for the class and book associated with the asset.
This column is not available for a non-depreciable fixed asset (one for which the Depreciate box is cleared on the General tab).”
U.S.-Based Fixed Asset Depreciation (acumatica.com)
Best,
David
David Eichner, CPA - If I helped you, please *Like* my post/reply. If I provided an answer to your question, please mark it as *Best Answer*.
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Hello Community
What if you are not in the USA? Is there a way to set up depreciation method in month of purchase, i.e. depreciate 100% immediately?
Regards
Barbara
Hi David
Thanks the Sect. 179 option worked perfectly but the customer has now added additional purchase amount to the asset. How do I get that to depreciate in full as well? I can’t amend the Sec. 179 amount.
Many thanks in advance
Barbara
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