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How to create opening balance of Assets

By
Naseeb Razaq
on 5/30/16, 2:40 AM 473 views

Hello !

I am adding fixed Assets  balances of currently used Assets into Odoo from another system.

My question is how I add balances of assets which have been used for years and also have accumulated depreciation balances?

In odoo we have option for adding a new asset with startup values from purchase Invoice, is it here any option for currently used assets add into odoo with accumulated depreciation?


 

Thank you so much Thomas for your valuable suggestion

Naseeb Razaq
on 5/31/16, 2:36 AM
0
Thomas
On 5/30/16, 6:30 PM

Althoug I have not tested it, I suggest

To enter the assets  and corresponding accumulated depreciation via the accounting module (using the Miscelaneous journal for instance or a specific one that you will be able to create (for instance Fixed assets journal). 

Debit Assets accounts/ Credit Depreciation for each line of assets.

The global accounting counterpart for the above entries will be a balance sheet account (credit) representing prior years of accumulated earnings or losses.

Normally, the accounting for existing assets and liabilities  (whether fixed ones or inventory or cash or debts) is done as an opening accounting process where all debits and credits are balancing. This is the opening balance.


Then Odoo should be able to resume the depreciation schedule for the remaining net book value and the remaining time life of each assets, based on the depreciation plan to be created.

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Asked: 5/30/16, 2:40 AM
Seen: 473 times
Last updated: 5/31/16, 2:35 AM