Transferring assets from an Existing Register

If you are recording existing assets, or transferring them from another register, when you create the asset in MoneyWorks you need to also specify:

  • The existing accumulated deprecation on the asset;
  • The date the asset was last depreciated.

The bookvalue that you specify must be the original cost less accumulated depreciation.

Assets that have been depreciated using diminishing value need to have their bookvalue specified as at the end of a financial year (this is necessary because it is used to calculate the following year's depreciation).