This feature allows to write off the remaining balance on the current year.
The user has an option:
a. Sell/dispose the existing asset.
b. Transfer the asset from "Motor Vehicle" to "General pool" (see below process to learn more)
Example
Client has an existing "Motor Vehicle" as an "Asset" and he wants to write off the remaining balance on the current year.
Step 1: Create a new “Asset Group” with “Type – General Pool”
Step 2: Navigate to existing “Group Asset” > Motor Vehicle. and open each asset and edit -
Step 3: Scroll down to “Move to Pool” select from the dropdown and choose “General Pool”.
Make sure that “Pooled Date” is same as the opening date - “depreciation date” from “Settings > Depreciation”
i.e. for 2020 form, “Depreciation date/opening date” should be set as 01 July 2019.
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