Hi All,
I have a query regarding the calculation of the wear and tear depreciation on an asset.
The wear and tear does calculate differently on assets, as some you get a fixed % irrespective of when you bought the asset and then others you get based on when you bought the asset. I assume you would be able to run the wear and tear journal every month and these rules would calculate the applicable wear and tear.
If this statement is correct, how do you go about stipulating the calculation or criteria?