Asset depreciation can only be rolled forward one year to the next and not backwards.
Care needs to be exercised when entering asset data into HandiLedger.
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.
Important: If an existing asset is entered in the current year, viewing the asset in the previous year, the Year under the Details section will reflect as a "0" and the OWDV under the Values section will show a "0.00", resulting in a blank or incorrect depreciation report.
Entering an existing asset
An existing asset is entered in the first year that you use HandiLedger for the Entity. The Cost and Date fields under the Historical details section have to be completed and the Acquisition section is left blank. As it is an existing asset the OWDV under the Values section needs to be completed.
Notes:
When you close a year off in HandiLedger you will be prompted to roll the depreciation values forward.
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.