Asset depreciation in HandiLedger can only be carried forward to the next year. It cannot be applied backwards.
Take care when entering asset data:
Record new assets in the year they are purchased.
Record 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.
Enter a new asset
A new asset is entered in the year that it is purchased. 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.
Enter 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.
Rolling forward
When you close a year in HandiLedger, you will be prompted to roll the depreciation values forward.
If you are entering comparative figures, the depreciation report for the comparative year will only be correct if the assets are entered in that year. If you need a depreciation report for the comparative year, follow these steps:
Complete the input of the trial balance values for the comparative year.
Reopen the comparative year.
Enter the asset depreciation details.
Roll forward again.
This ensures the depreciation report reflects accurate values for the comparative year.