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Net Book Value - Custom Codes


#1

I love the new feature displaying the NBV on the spreadsheet. It is really great. The only issue I have is that it only works on system generated nominal codes (e.g. 0030/31 0040/41). Due to the nature of our business we have a number of additional Fixed Asset classes for refurbishment costs and franchise licence costs, etc. Can you set up the nominal accounts to link the user created “cost” and “depreciation/amortisation” codes to display NBV in the same way as the system generated codes?


Balance Sheet presentation using custom nominal codes
#2

When implementing this feature we went with a fixed set of codes. I’ve updated this thread to a feature request for now. I think it would be possible to update the balance sheet to use custom nominal code pairs for calculating the NBV.

I can’t say when exactly this would be implemented but I will leave the thread open for others to add their vote.


#3

I’ll add my vote to this - I’ve added several additional asset codes and associated depreciation codes, and it’d be good to be able to net them off on the balance sheet.


#4

@patrick @ian_roberts

You can now setup custom asset / depreciation pairs from your Chart of Accounts report.

When you create a new nominal account in the asset range (1-1999) and include the word “depreciation” in the account name, if you then edit the nominal code (orange cog wheel) an option will be presented to specify the parent asset code to which the depreciation should be set against.

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Once updated, you will then see the relevant grouping on the balance sheet report along with the Net Book Value.


Depreciation on Balance Sheet
#5

That’s great, thanks. Would it be really cheeky to ask if you could add “amortization”/“amortisation” as another trigger word for this feature? I could of course rename my nominals but it seems more correct to use amortisation for intangible assets.


#6

Glenn, this is fantastic and shows a credit too you and the team that this feature suggested 3 years ago has not been forgotten. Great job!!


#7

Yes it’s a good point, we’ll get that feature added for the next release (2-3 days).