Depreciation why is account 0011 not included in Net book Value

[LVSCTreasurer]

I have set an asset with an account number of 0010 and the depreciation of 0011

When I click the net book value option the other accounts show correctly but not 0010.

Are there only certain accounts that can be netted?

Regards

Graham

[Glenn]

Just looking into an earlier thread regarding NBV (see quote below).

@Glenn

When opening the balance sheet if any balance is discovered on 0020, 0030, 0040, 0050 0100 or 0110 the following option will appear allowing you to display as a net book value.

0010 (Freehold property) and 0011 (Leasehold property) it seems are not considered in the NBV calculation. There are actually no default depreciation codes for either FH or LH property. I will check with our in-house accountant to see if this needs to be updated.

[LVSCTreasurer]

Okay so if I move the property to 0020 and the depreciation to 0021 it will work?

[Glenn]

It would yes.

If you want to try that let me know the outcome.

[1andy_mc]

Hi did we have any luck with 0010 and the depreciation of 0011 as this does not have NBV option?

[Glenn]

Unlike the other asset pairs freehold (0010) and leasehold (0011) do not have a corresponding depreciation code in the default Chart of Account. This makes it harder to factor in NBV for these types of assets.

We could potentially allow users to create their own depreciation linked codes but this is a little more complicated to achieve. Certainly we can look at this in future, although unfortunately it’s won’t be at the top of our agenda in the near term.