New assets are entered in the year that they are purchased, and existing assets in the first year that HandiLedger is used for that entity. Assets can only be rolled forward one year to the next and not backwards.
If there is a negative balance in the depreciation report, ensure you have entered the assets correctly using the steps below; you may be missing information from the asset, which can cause the negative balance.
Enter a new asset
A new asset is entered in the year that it is purchased.
Log in to HandiLedger and Select your entity and year.
From the View menu, click Depreciation Schedule.
Highlight the depreciation schedule associated with the new asset.
In the lower half of the window, click Asset and then New.
Enter the Name.
Both the Cost and Date fields under the Historical details section, and the Cost and Date fields under the Acquisition section, need to be completed.
Complete the Depreciation Rate and information.
If the asset was also disposed of in the current financial year, click Disposal.
Click Save and Close.
Enter an existing asset
An existing asset is entered in the first year that you use HandiLedger for the Entity.
Log in to HandiLedger and Select your entity and year.
From the View menu, click Depreciation Schedule.
Highlight the depreciation schedule associated with the asset.
In the lower half of the window, click Asset and then New.
Enter the Name.
The Cost and Date fields under the Historical details section need to be completed, and leave the Acquisition section blank.
As it is an existing asset, the OWDV under the Values section must be completed.
Complete the Depreciation Rate and information.
Click Save and Close.
Notes:
If an existing asset is entered in the 2025 year, viewing the asset in the 2024, the Year under the Details section will reflect as 0, and the OWDV under the Values section will show a 0.00, resulting in a blank or incorrect depreciation report.
When entering comparative figures, the depreciation report for the comparative year will only be correct if the assets are entered in that year.
If a depreciation report is required for the comparative year, it would be best to enter the asset (depreciation) details by going back into the comparative year after having completed the input of the trial balance values, by reopening the year, entering the details, and rolling forward again.