Maconomy Information Center

Create a New Tax Depreciation Table

You can create a new tax depreciation table to set the maximum allowed depreciation for all the years in the asset’s lifetime.

To create a new tax depreciation table:

  1. Go to General Ledger > Fixed Assets > > Setup > List of Tax Depreciation Tables.
  2. In the Tax Depreciation Table tab, click the New Tax Depreciation Table action or press CTRL + N.
  3. In the Tax Depreciation Table Information island, enter the tax depreciation table name in the Name field.
  4. Click Save.
  5. In the Tax Depreciation Table Lines sub-tab, click the Add Tax Depreciation Table Line action.
  6. In the Percentage field, enter the value that you can depreciate for the first year, then second year, and so on.
    Note: Maconomy ensures that the total percentage in the table is 100%. If you try to add a tax depreciation line after 100%, Maconomy displays an error message that states that the remainder has reached zero and there is nothing left to depreciate.
  7. Click Save.