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IT Depreciation_User Manual
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Following scenarios are considered in this document:-1. Creation of Asset2. Acquisition of Asset External Internal3. Retirement of Asset With customer Without customer4. Income tax depreciation thereon
1. Creation of Asset:- (AS01)
India Specific data tab controls the IT depreciation. Hence from now on we do not require group asset as the Block key and the additional block key (Additional block key only in case of Plant & Machinery for additional depreciation) calculates the IT depreciation.
One can ignore Tax bal. sht. Depreciation key.
2. External acquisition of Asset:- (F-90)
External acquisition completed
Calculation of Income tax depreciation
Update transaction details at block level (J1INBLKTRNS)
Once you have verified the transaction go to main screen, remove tick from test run and execute again
One can also view the transactions at asset level (J1IDISPBLK)
Before one goes for viewing Income tax depreciation on the current transactions on pre-requisite is to update the Opening WDV (J1INBLKOWDV)
After that, run the Income tax depreciation calculation report (J1IDEPCALPOST)
Note: Calculation of additional depreciation as per Income tax
2. Internal acquisition of Asset:-
Creation of Internal Order (KO01)
Booking cost against the internal order (FB60)
Settlement of Rs. 10,000 against AUC (Automatic settlement) (KO88)
Booking another cost against the internal order (FB60)
Settlement of Rs. 10,000 against AUC (Automatic settlement) (KO88)
Uncheck Test run
AUC balance should show Rs. 30,000 as balance.
AW01N (Asset explorer)
Note: Value date would remain the settlement date.
Creation of Asset to which AUC is to be settled (AS01)
We will have to change the settlement rule and add this asset in the rule.(KO02)
Now we will settle AUC against Main asset (KO88)
Uncheck Test run and then execute
Asset Explorer (AW01N)
Calculation of Income tax depreciation
Update transaction details at block level (J1INBLKTRNS)Note: If transactions have already been updated for a particular period (Irrespective of the block) select Re-Run and uncheck test run to update.
Before one goes for viewing Income tax depreciation on the current transactions on pre-requisite is to update the Opening WDV (J1INBLKOWDV)
After that, run the Income tax depreciation calculation report (J1IDEPCALPOST)
3. Retirement with Customer (F-92)
Enter the FA sales clearing account on the credit side by the amount of sale proceeds
After that click on the asset retirement option
After that it will guide you to another screenEnter the asset number to be retired and if the asset was acquired in current year only select transaction type 260 else 210.Also enter amount to be written off from the book value
Calculation of Income tax depreciation
Update transaction details at block level (J1INBLKTRNS)After that, run the Income tax depreciation calculation report (J1IDEPCALPOST)
4. Retirement without Customer (ABAON)
Calculation of Income tax depreciation
Update transaction details at block level (J1INBLKTRNS)After that, run the Income tax depreciation calculation report (J1IDEPCALPOST)