When you import assets with an opening balance into AssetAccountant™ you will notice there is a "greyed out" section in italics above the opening balance date.

This is a feature that allows you to check your historical data for individual assets.

AssetAccountant™ uses the Written Down Value you nominate as the source-of-truth and only posts journals after this date based on the other applicable data such as:

  • Purchase date,
  • Depreciation method,
  • Effective life,
  • Depreciation rate.

But the estimated depreciation numbers you see greyed out and in italics gives you the opportunity to see if what you have previously posted using your previous system (e.g. excel, ERP, GL, desktop software) was accurate.

If there is a discrepancy, this will be shown prior to the Opening Balance date for you to check and reconcile with your previous system and disclosures.

Remember:  AssetAccountant™ will treat the Written Down Value as the source of truth - if it is correct or not!