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SuperFund - Enter depreciating assets in Fund Setup for an existing fund

How to enter depreciable asset details, including the depreciation schedule, when using the Fund Setup option in SuperFund.

You can enter depreciable assets for an existing fund directly from the Fund Setup window. The process involves completing the property details, creating a depreciation schedule, and recording the depreciable asset data separately for reporting purposes.

Enter the property details

  1. Log in to Superfund and Select the Superfund entity.

  2. From the Fund menu, click Fund Setup.

  3. In the Fund Opening Setup window, double-click Property.

  4. In the Property window, complete the relevant details for the asset.

📌Note: For example, a superfund may have an existing asset with a non-depreciable component of $4,100.00 and a depreciable component of $1,000.00. The depreciable component requires additional data entry for reporting purposes. Follow the steps below to complete this.

Create the depreciation schedule

  1. In the Property window, highlight the applicable asset, then click Depreciation to create the depreciation schedule.

  2. Click New, then complete the Depreciation Schedule with the relevant data.

  3. Click Save and Close.

Record the depreciable asset data

  1. In the Property window, ensure the applicable asset is still highlighted, then click Depr. Assets.

  2. Enter the relevant asset details in the Depreciable Property Assets window, then click Save.

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