Adding different cost or first use date for tax and accounts : AssetAccountant

Adding different cost, opening balance or first use date for tax and accounts regimes Print

Modified on: Thu, 11 Jan, 2024 at 3:23 PM

Sometimes you may like to take advantage of differing rules and treatments between US GAAP or IFRS and your local country's tax laws.

To facilitate this, AssetAccountant supports the importing of assets with different opening balance dates for your tax books and accounts books for depreciation calculations.

AssetAccountant also supports applying a different first use date for tax and accounts regimes.

When using the Advanced Import Assets function within the software, simply toggle the button that allows having these different values and follow the on-screen instructions.

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Adding different cost, opening balance or first use date for tax and accounts regimes Print

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