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Fixed assets period table

The fixed assets period table contains all the depreciation periods. If, for example, you want to depreciate per month then you must use a period table with a month classification. Within an environment, you can use one period table for fixed assets you link in the administration settings.

Description

Profit calculates the journal entries for the depreciations on the basis of the fixed assets period table. This period table can be the same as your financial period table, but it does not have to be. For example, you could use a monthly financial table and depreciate your fixed assets per quarter. When journalising, the end date of the period in fixed assets is used to determine the periods in the financial period table for the journal entries.

Example:

The fixed assets period table has 4 periods in a financial year that run parallel with the quarters January 1st - March 31st, April 1st - June 30th and so on.

  • Financial year the same as the calendar year

    The Financial period table has 12 periods that run parallel with the months in a calendar year. The first period of the fixed assets period table has March 31st as the end date. This corresponds with period 3 in the Financial period table because March 31st falls within this period.

  • Broken financial year

    The Financial period table has 12 periods in which the first period begins in July. The first period of the period table (with March 31st as the end date) corresponds with period 9 in the Financial period table because March 31st falls within this period.

    The above examples shown schematically:

    Periods

    Calendar year

    Month table

    Broken financial year

    Fixed assets

    January

    1

    7

    1

    February

    2

    8

    1

    March

    3

    9

    1

    April

    4

    10

    2

    May

    5

    11

    2

    June

    6

    12

    2

    July

    7

    1

    3

    August

    8

    2

    3

    September

    9

    3

    3

    October

    10

    4

    4

    November

    11

    5

    4

    December

    12

    6

    4

 

 

 

Procedure

Process

Fixed assets