Frequently Asked Questions

We can post the depreciation entry in next year then it will consider the full value in opening of the asset and charge the depreciation accordingly from Depreciation Chart Option Under Display Menu.

BUSY calculate depreciation automatically as per depreciation rates define in the fixed assets master. You can pass entry directly from Depreciation Chart report Press"F4key it will auto pass entry of depreciation.

As per the depreciation chart, half of the yearly depreciation is charged in the second half installment. Therefore, the depreciation for the new computer purchased on 1/10/2022 will be charged accordingly.

In BUSY when you create fixed assets master after selection of group of fixed assets a window appear which ask for the depreciation rate which is yearly and half yearly basis

This is not possible becuase opening balance never change when generate any report. If such kind of issue is available then please contact with our Helpline No. i.e.8282828282, Or 011-40964096

For handle fixed asset repairs additions or improvements in BUSY please follow below mention steps:-
Step 1:- Transaction Tab
Step 2:- Journal voucher
Step 3:- Add, enter expenses against respective fixed asset

For revaluation of fixed assets do entry through Journal voucher. Please follow below mention steps for add journal voucher:-
Step 1:- Transaction Tab
Step 2:- Journal Vocuher
Step 3:- Add

Mention different asset rates in BUSY as per the Act such as Income Tax Act or Company Act. You can mention different depreciation rate for different asset.

If you purchased a fixed asset in previous year then you need to charge the depreciation also in the previous year.

No, Cannot do customization in depreciation schedule it is fixed as per the Act, i.e., Income Tax Act and Company's Act.