Additions to fixed assets

Requirement

In this country, additions to fixed assets are commonly used as part of the fixed assets processes.

M3 solution

Additions to fixed assets and the creation of subassets into main assets are supported by M3. These tasks can be completed manually, per asset under construction or accumulated project cost, or directly integrated with supplier invoice recording or inventory.

In Poland, an increase in the value of a fixed asset is reflected by the acquisition cost. In parallel, the additional amount, the history, and the timing of the transaction are displayed.

As required by the Polish tax law, the value of a fixed asset can be increased at any moment of the lifecycle of the fixed asset, even if it has already been fully depreciated.

The depreciation rate after an addition to an asset is calculated on the base of the total acquisition cost based on the yearly depreciation percentage. The new calculated depreciation amount is used until the remaining value of a fixed asset is zero.

Configuration guidelines

Not applicable.