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Set up asset group depreciation for depreciation books (India)

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You can use asset group depreciation for assets that are similar and for those assets that have the same number of years of life. The asset group depreciation method is different than other methods of depreciation where assets are depreciated individually or where dissimilar assets are grouped together. The demo data company used to create this procedure is INMF.

  1. Go to Fixed assets > Setup > Books.
  2. Click New.
  3. In the Book field, type a value.
  4. In the Description field, type a value.
  5. In the Depreciation profile field, enter or select a value.
  6. Select Yes in the Calculate depreciation field.
  7. In the Posting layer field, select an option.
  8. In the Posting layer field, select an option.
  9. In the Posting layer field, select an option.
  10. Select Yes in the Allow negative net book value field.
  11. Select No in the Allow negative net book value field.
  12. Select Yes in the Allow net book value higher than acquisition costs field.
  13. Select No in the Allow net book value higher than acquisition costs field.
  14. In the Calendar field, enter or select a value.
  15. Click Fixed asset groups.
  16. In the Fixed asset group field, enter or select a value.
  17. Click Save.