Adjust or write off a pool balance

You can make an adjustment to increase, decrease or write off a pool's balance.

What are the pool adjustment types?

  • Opening balance - Adjusts the pool's opening balance used to calculate depreciation.
  • Business use - Adjusts the pool's opening balance used to calculate depreciation. Use this adjustment if you need to track adjustments due to business use.
  • Current year additions - Adjusts the value of additions used to calculate depreciation.
  • Write off - Adjusts the pool's balance. If you enter a write-off adjustment before running depreciation, this will affect the pool balance used to calculate depreciation. If you enter a write-off adjustment after running depreciation, this will affect the pool's closing balance for the financial year.

Points to note

  • Depreciation must be in the same financial year as the adjustment date, or the end of the previous financial year. You may need to run or roll back depreciation to make the adjustment.
  • To decrease or write off the pool balance, enter a negative amount.
  • If the adjustment is dated before your tax reporting start date, you may need to adjust the pool's opening balance.

Enter a pool adjustment

  1. On the Accounts menu, select Fixed Assets.
  2. Click the Pools tab.
  3. Click the pool you want to adjust.
  4. Click the Adjustments tab.
  5. Click New Adjustment.
  6. Select the Date and Type of adjustment.
  7. Enter the adjustment Amount.
  8. In the Note field, enter a description of the adjustment.

    Image showing pool adjustment details.

  9. Click Save.

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