Fixed assets and depreciation
Depreciation schedule, automatic postings to the ledger and revaluation - two methods, one source.
Accounting and tax depreciation are different
The accounting method is usually straight-line and enters the cost of goods. The tax method is reducing-balance and is used in the declaration. The two give different figures for the same asset.
The module calculates both but posts ONLY the accounting method - the tax calculation belongs in the declaration, not in the ledger. Mixed together, the result matches neither accounting nor tax logic.
Category and schedule
An asset is tied to a category and the schedule builds itself: amount per month, residual value and posting date.
Revaluation is a separate document - when the value changes the schedule is recalculated and the old lines are left untouched.
What this module adds
In the system this module opens the following items.
Related modules
Finance and order book
Cash desk, advances, expense requests, budget, currency, period close and the order book - a treasurer's daily work in one section.
E-invoice readiness
An invoice is checked before it is sent: a missing detail appears by name, while numbering and the queue sit in one list.
Financial reports
Eleven ready reports - from the trial balance to the audit trail, with Azerbaijani account codes and a variance check on each one.
Most often asked
Do the depreciation rates come ready?
Yes, with the category set. The rates are the upper limits in article 114 of the Tax Code and must be confirmed with your accountant.
See this module with your own data
The demo database is full of real documents - not a mock-up. Send a request and we will walk through your scenario.