AssetAcountant™ does not back-calculate data from the opening balance provided by you.
Why?
When importing assets, AssetAccountant™ is taking the values (WDV's) for the assets at a single point in time. From this data, it is impossible to know exactly how the asset was depreciated in the past. For example, it could have originally been depreciating using one method, rate, life, then reassessed to another method, rate, life or have been adjusted, revalued or impaired. We do however provide an estimate of what the asset depreciation could have been in the past which will be greyed out and should only be used as a guide.
Therefore if you toggle back in time to a date range before the imported opening balance date, AssetAccountant™ will flag the cells orange to warn you the data may not be accurate.
These warning cells will not apply to dates or data after the imported opening balance date. Once the data is in AssetAccountant™, we capture every movement and change in every asset (fully auditable) on behalf of the client. We can therefore display the assets data accurately in every field at all future dates.
