Depreciation of fixed assets

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2019-08-05 15:00:16

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Accounting involves a lot of different operations with the basic, off-balance sheet and other accounts. One of the main operations is the write-off of fixed assets. It is carried out exactly with the guidelines and other documents regulating the procedure.

depreciation of fixed assets

You can Debited can transport structures, which are classified as fixed assets. To do this, they must be mentally technically obsolete or worn out. Also eliminated fixed assets in the case, if they are damaged beyond repair as a result of accident, disaster, improper operating conditions. Still charged structures, which are subject to reconstruction and destruction, as well as those that cannot be restored.

The current rules allow write-off of fixed assets, even if they are fit to work, but not needed in connection with the termination of the relevant proceedings. This procedure is performed even if it is not profitable and is impractical, but there are certain specific reasons.

Write-off of fixed assets requires a registration of the order in which the owner (Manager, Director) vybaveneho property declares the decision. To explain the reasons for this action is optional. By order of the head of a special Commission, which consists of entities that use fixed assets. If the write-off of fixed assets carried out regularly, there should be documents that can substantiate the reasons for the elimination of an asset. The Commission requires the presence of the chief accountant.

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Next object to be knock-out, carefully inspected using technical documents, the degree of its suitability for use, identifies those persons for which the tool became unusable, are the elements that can still be used, and then, an act for the cancellation. It needs to be issued in two copies. One document remains in the organization, and the other is transmitted to the accounting Department. Undertaken actions should be reflected in the accounting report.

debit Memorandum accounts

The Next operation is a write-off of tax debt. The main reason of committing such a procedure is the loss of the ability of the tax authority to recover debts as the result of the expiration of the deadline. It must be a court order stopping powers of the tax service in connection with the expiry of the repayment period. You also need to have a certificate from the tax office that shows the amount of debt. This type of cancellation is not possible without these basic documents.

Another type of journal entry is a debit Memorandum accounts. On the account are those funds that are not direct property of the organization. Cancellation occurs when they pass into the possession of the company.

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