This article will explain how depreciation is handled in the Financial Statements generated in Simple Fund 360.
Depreciation and the Investment Summary Report
The Investment value will be calculated based on the current market price entered into Simple Fund 360 regardless of any depreciation journals entered into Simple Fund 360. Revaluation preferences can be set from the fund's allocated badge.
Review the date of the market prices used in the Investment Summary Report. From the Reports Screen select Settings beside the Investment Summary Report, select Display Market Price Footnote.
Depreciation and the Notes to the Financial Statements
The investment will be valued based on the current market price entered into Simple Fund 360.
Ensure the investments market price date entered is the date you are Creating Entries up until. (eg. The fund will be finalised as at 30/06/2017. The market price date entered into Simple Fund 360 must be 30/06/2017.
Simple Fund 360 will automatically update security prices on daily bases for any listed investment. To update security prices for any unlisted investments check out the following help Manually Revaluing Security Prices
For Fixtures & Fittings to display the Current Written Down Value in the financial statements, update the market price as at 30/06/20XX to the Current Written Down Value.
Depreciation and the Detailed Operating Statement
The Detailed Operating Statement will provide a breakdown on depreciation for the Financial Year against a specific investment account. Simple Fund 360 is not designed to represent accumulated depreciation in the financial statements.