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Customers have a need to calculate Tax layer depreciation for the full year regardless of the acquisition date. If Depreciation convention could be set to Full year when setting up a new Fixed asset, the user does not have to remember to change the Placed in service date in order to calculate Tax layer depreciation for full year instead of from the acquistion date. The Tax layer acquisition is done using Derived books simultaneously with the Current layer acquistion.
STATUS DETAILS
New
Comments
Based on Finnish Tax law the acquisition date is not relevant for calculating depreciation even for the first year. Only the residual amount at the end of fiscal year is used to calculate Tax layer depreciation. This is currently not possible in D365 unless the user changes the Placed in service date manually after Acquisition. More information on Tax layer depreciation calculation in Finland: https://www.vero.fi/en/businesses-and-corporations/taxes-and-charges/limited-companies-and-cooperatives/depreciation-expenses/
Category: Fixed assets