Welcome to the ERPNext Accounting forum. The Accounting Module in ERPNext has features like invoices, payments, journal entries, subscriptions, credit/debit notes, reports, pricing rules, tax rules, and much more. To see a highlight of the features, visit this page.
In this category, you can post questions, discuss, and help other community members with Accounting related questions that pertain to ERPNext.
Before asking a question here, do go through the official ERPNext documentation to see if you can find your answers to your questions.
Here are some common topics in Accounting that users may need help with:
- Chart Of Accounts
- Cost Center
- Journal Entry
- Payment Entry
- Advance Payment Entry
- Sales Invoice
- Purchase Invoice
- Credit Note
- Debit Note
- Tax Rule
- Pricing Rule
- Currency Exchange
- Multi Currency Accounting
- Deferred Revenue
- Deferred Expense
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I am trying to upload fixed assets which are existing in our firm. The process of uploading an existing asset is straight forward if all the calculation would have been correct.
But the concern here is, The accumulated deprecation which is been calculated in past is not accurate and needs to be recalculated and updated in he system.
For eg:- Suppose there is a Car with a value of 12,50,000.00 which has to be depreciated at 31.23% over 8 years on WDV method as prescribed by RoC act.
But the following is been 12,50,000.00 is been depreciated at 8.94% on WDV method which is giving an difference of around 10,00,000.00 in opening depreciation.
Please guide how to record this difference.
Awaiting for a positive response.
Thanks and regards.
Krishna M Sharma
Not entirely sure if this is the case, but it seems you encountered similar issues that I did. More details on it here: How to add existing, partially depreciated assets?.
The Frappe Team is working on a refactoring of the Asset module this month (November' 21 Roadmap) so hopefully it will be fixed soon.