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Inflation accounting (correction) is the correction of financial statements that cannot express the real situation due to changes in the purchasing power of money, in order to make them express the real situation. Inflation adjustment for fixed assets can be made both individually and collectively. When done from the fixed asset detail, inflation correction is made for a single fixed asset and a single voucher is created. On the Accounting Transactions page, a collective correction is made to all fixed assets at once, and this correction is collected collectively into a single voucher.

Path: ERP > Finance Accounting > Accounting Transactions > Inflation Correction - Fixed Assets

Inflation correction on Workcube is done with 3 different methods: fixed asset basis, stock basis and account basis.

Inflation Adjustment - Accounting Records
Inflation Adjustment - Stocks
Inflation Adjustment - Fixed Assets

Inflation Adjustment - Fixed Assets

Inflation on a fixed asset basis, that is, single If no adjustment is desired, it is done collectively via the "Inflation Adjustment - Fixed Assets" business object under Accounting Transactions.

XML settings can be accessed via Page Settings on the page. In the xml settings, the fixed asset categories and accounts that will appear on this page, that is, the fixed assets and main accounts to be corrected, are written separated by commas.

Fixed Asset Category ID: Fixed asset category ID values to which the fixed asset is attached are written. ID values are taken from the fixed asset categories under the parameters.
Fixed Asset Accounting Plans:The main accounts to which the fixed assets are linked are written.
Inflation Coefficient Rounding: The number of digits after the comma in the correction coefficient is determined. It is recommended to define it as 5.

Fixed Asset - Account Plans: Main accounts written in XML will go here. By selecting the chart of accounts, inflation adjustments can be made and vouchers can be created separately on an account basis.
Fixed Asset Category: Fixed asset categories written in XML will go here. By selecting the asset category, inflation adjustments can be made separately on a category basis and a voucher can be created.
Fixed Asset Entry Date Start: The entry date of the fixed asset is selected. Here, based on the selected date, it lists all the fixed assets that have been entered as of this date.
Correction Date: The transaction date is entered on which date the correction will be made. It is important to choose the correction date correctly, since the coefficient calculations are made based on this date in the formulas. Corrections can be made at the end of the year or during provisional tax periods.

Tip: The accounts or fixed asset categories to be corrected can be run separately on the page, or all fixed assets can be poured with the "Get Fixed Assets to be Corrected" button without making any selection.

After querying with Get Fixed Assets to Be Corrected, fixed assets are listed with their initial, final, corrected values and fixed asset, depreciation and inflation differences. When the item icon next to the line is clicked, it can be viewed by going to the details of the relevant fixed asset.

Correction Coefficient: Yi-PPI index definitions are taken into account in the correction coefficient. Correction coefficients are based on Entry Date and Correction Date.
Adjusted Value: The value found after multiplying the Initial Purchase Price with the correction coefficient.
Depreciation Inflation Adjustment Difference: The adjusted depreciation value is found by multiplying the allocated depreciation amount with the correction coefficient. It is the value found by subtracting the depreciation amount from the adjusted depreciation amount.
Fixed Asset Adjustment Difference: Found by subtracting the adjusted value and the initial purchase price value.

Formula:

[ 184]

Basic for Correction Value:	2.650,00
Correction Coefficient:	D-PPI for the month and year on the correction date / PPI for the month and year on the transaction date PPI
	12/2023 = 2.915,02 / 04/2023 = 583.38
	2,915.02 / 583.38
	4.99678
Corrected Value:	Initial Purchase Price x Adjustment Coefficient
	2.650,00 x 4.99678
	13,241.47
Fixed Asset Adjustment Difference:	Adjusted Value - Initial Purchase Price
	13,241.47 - 2,650.00
	10,591.47
Depreciation Inflation Adjustment Difference	Allocated Depreciation x Adjustment Coefficient - Reserved Depreciation Amount
	88.25 x 4.99678 = 440.9658
	440.9658 -88.25
	352.72

Tip: If it is thought that there are errors in the calculations, they are run again after the relevant adjustments are made. If the incoming calculations and their values are correct, continue with "Automatic Run Inflation Difference Calculations ". All fixed assets on the page appear in the

Number of Fixed Assets to be Corrected field. When called autorun, the microservice runs. It assigns records at the back by making calculations one by one. As the microservice runs, the Number of Throws to the Correction Table increases. After completion, the number of accounts and the number of accounts checked will be the same.

If an account is selected in the Fixed Asset Inflation difference account field, the total for all fixed assets in the list will be transferred to the selected account in the relevant voucher. If each fixed asset is to be assigned to its own accounting code, "Fixed Asset Inflation Difference Account" should be left "BLANK". If left blank, each fixed asset will be debited to its own account.
After clicking Save, the accounting slip will be created for both the fixed asset and accumulated depreciation. The created voucher can be viewed from the details of the relevant fixed asset, as well as examined from the "Accounting Vouchers" page.
Values are calculated according to the coefficients on the correction date. First of all, the accuracy of the Index Rates should be checked.
After inflation correction is made, the latest values can be displayed in the fixed asset detail and fixed asset listing page.
In the fixed asset valuation process, the valuation is made based on the last value after the correction.

Attention: The voucher is created. If the list is run again, the old voucher will be deleted and a new voucher will be created.

Fixed Asset Detail

Inflation correction can be made individually or collectively. If the correction is made collectively, it will be stated that it was made collectively in the fixed asset detail. When you go to the details of the relevant correction, the delete button will not appear. Since it is done collectively, deletion and updating cannot be done from the fixed asset details.

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About Workcube Objects

Inflation Adjustment - Fixed Assets

Inflation adjustment for fixed assets can be made both individually and collectively. When done from the fixed asset detail, inflation correction is made for a single fixed asset and a single voucher is created. On the Accounting Transactions page, a collective correction is made to all fixed ass...

Type: WBO Version: Lean v3 Licence: Standard Author: Workcube Core