Intangible Asset Useful Life
Article ID
ias-12561
Article Name
Intangible Asset Useful Life
Created Date
14th September 2017
Product
Problem
When posting to account 503, 504 and 505 (intangible assets) how do you enter a figure for the estimated useful life?
Resolution
After entering the Fixed Asset Depreciation Policies (can be found under Edit), users can enter the estimated useful life in the data screens by opening the following folders:
-Notes to Financial Statements
-Accounting Policies
-Standard Accounting Policies
-Intangible Assets other than Goodwill
If nothing is entered here, the text will state that the useful life is ‘nil’ years.
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