To review asset reports, click on the Reports tab of the Assets screen. From here, select the type of report you want to display:
- Full Summary
- Tax Disclosures
You are also able to filter by asset group by selecting the relevant Asset Groups from the dropdown menu on the right.
Once you are happy with the settings, click on the Run Report button to view the report results. You can also click on Export to Excel to view a fully formatted Excel version of the displayed report.
You can expand and collapse report sections to view summarised or detailed views of the report. You also have the ability to customise the report by hovering the mouse over the headers, which brings up options to sort, filter and display as needed. For more information on navigating reports see the knowledge article: Filtering and Formatting within Reportance.
Note: You can navigate straight to an asset from any report to make changes. Closing the asset will then return you to the report. Click Run Report again to see the changes reflected in your report.
Note: You can change the year you are viewing by selecting the relevant year in the Year dropdown menu at the top of the screen.
When running a pool report you need to select the pool type from the Pool dropdown menu. There are three options; General Pool (default), Low Value Pool and Software Development Pool. Then select the Depreciation Type as either Taxation (default) or Accounting. Click Run Report.
The report will not only display the pool summary, but also a list of all assets and their details that make up the pool.
Tax disclosures report
The tax disclosures report is a very useful tool to help complete your tax return. Click on the Reports tab in the Assets screen and select 'Tax Disclosures' from the Report dropdown menu and then click on Run Report.
To see a breakdown of an amount in the report, click on the information icon to the right of the relevant figure. This will bring up the detail of the tax return label.
The tax disclosure report shown will depend on whether you have selected to use small business depreciation when setting up the depreciation year. For more information on how to edit the depreciation year see the knowledge article: Assets - Overview.
An example of a tax disclosure report without small depreciation rules is shown below:
Adding to statutory reports
The ability to add a depreciation report into any statutory report is done through the Reports section of Reportance by adding a new depreciation page to the report and customising it. See the knowledge article: Reporting - Pages.
Next article: Posting Depreciation Journals