There are 2 methods of inputting Main Pool and Special Rate Rool asset acquisitions in the period of account (POA). To record details of the acquisitions, the Fixed Asset Additions screen is where this data should be input. This section explains how to achieve the best results for you.
If you do not wish to record details (including dates) then the acquisitions can be input directly into the Main pool and Special rate pool.
Accessing Fixed Asset Additions
There are 3 locations where the Fixed Asset additions screens can be found:
- Within the Trade Capital allowances area Trading income > Trade name > Capital Allowances > FA Additions
- Within the Management Expenses capital allowances area Management Expenses> Capital Allowances > FA Additions
- Within the Balance sheet area Balance Sheet Analysis > FA additions
This is using the grid method of data entry. As can be seen, there are 4 columns of data to add data.
The view shown here is where the Fixed asset additions screen has been accessed via the trade area.
- Date - must be within the POA. Validations will appear on the errors and exceptions panel seen at the foot of the working area
- Pool type - select either Main pool or Special rate pool
- Allowance type - select the capital allowance type you wish to claim on the item of expenditure
- Cost - this applies to all acquisitions
- Value - this column will appear when the Allowance type Inter company transfer in at WDV is chosen from the allowance type.
any values previously entered in the associated allowance type fields within each of the pools will be overwritten when entering details in fixed asset additions