Yes.

Odoo multi-ledger postings for fixed assets allow you to record a single asset's financial data across different accounting standards or journals simultaneously, such as for local GAAP and IFRS.

This is managed through a dedicated multi-ledger configuration and can be enabled for complex scenarios like multinational companies or businesses that require simultaneous reporting under multiple sets of rules.

An asset can generate two separate, but linked, asset entries from a single vendor bill, with each entry posted to its respective journal.

Example: We purchase a machine for $50,000 and want to depreciate it (a) for book purposes: over 5 years with straight line depreciation and a salvage value of $5,000; and (b) for tax purposes: over 7 years with 200% declining balance with a half-year conversion, ignoring the salvage value (MACRS rules). 

We record a process the Vendor Bill as usual, with our Machines & Tools Fixed Asset account configured to create draft fixed assets (ie: let us edit them before posting):

After confirming our Asset is setup correctly and reviewing the Depreciation Board, we confirm it. This handles the (a) book purposes depreciation using our Fixed Assets Journal.

We now duplicate the Asset so we can change the Journal, Not Depreciable Value and Depreciation Method. For cases where Odoo can't automatically calculate the depreciation entries, we can edit them on the board.

Depreciation Schedule for the Fixed Assets Journal:

Depreciation Schedule for the Tax Purpose Fixed Assets Journal:

To automate this "duplication" of the Asset, you can configure two asset models (using different Journals) on the fixed asset account:

This will then create both Assets, linking them via a Smart Button at the top of each Asset.

Odoo also supports creating Fixed Assets without Vendor Bills.  This is normally done when:

• the Purchase occured in a prior system, before going live with Odoo
• the Fixed Asset is self-built - created from Inventory (current assets)
• the Fixed Asset is self-built - created from Work in Progress
• the Fixed Asset is being created due to a reclassification

In each of these cases, you can select the Journal Item representing the debit and use the Create Asset button. 

If you manage things this way, repeat this process to create multiple assets from the same debit, so you can create multiple depreciation schedules for each one - remember to use a different journal so you can select the correct Journal when reviewing your financial reports. In this way, the Fixed Assets will also be linked via the Smart Button.

Notes: 

• Odoo 19 with the standard US Chart of Accounts is already configured with a Machines & Tools GL account and Asset model.
• Under section 179 of the tax code (IRS) likely allows us to expense the entire $50,000 in Year 1 so this is more a fictional example than a real one.

More information https://www.odoo.com/documentation/19.0/applications/finance/accounting/vendor_bills/assets.html

If you have questions or concerns about this, including doubts about your ability to successfully manage your fixed assets, please reach out to your Odoo Digital Advisor or Odoo Partner for support.