Balance depreciations etc. in power plants and fixed asset register

In Year-end closing - Information and tax - Information - Basis values ​​- you will find the work area for Balance depreciations etc. in power plants. The area is activated by selecting 'Hydroelectric plant' from Edit feature areas.

Balance depreciation

Balance depreciation

Balance depreciation, ordinary straight-line depreciation and non-depreciable tax fixed assets all have power plant information for fixed assets belonging to power plants.

Each depreciation object (e.g. a balance in balance depreciation) has a tick for the fact that it applies to hydropower plants, where you can tick this off. If this object concerns hydropower plants, there is also information about:

• Investment directly expensed in ground rent taxation

If you have investments that are both directly expensed and that are depreciated in the ordinary course of basic income taxation, you must divide them into two different balances. This also applies to cumulative balances, e.g. balance group d.

• Power plant

Here you choose which power station the object belongs to. If you have several power plants, you must have a balance for each of the power plants, also on aggregate balances such as e.g. balance group d.

• Is a fixed asset under construction (Choice Yes/No, where No is the default value)

• Calculated fields that are calculated by the Norwegian Tax Agency and read into the depreciation object:

  • This year's exempt income

  • Present value of future replacement costs Consumer price index-adjusted investment cost

  • Consumer price index-adjusted investment cost

  • Remaining life

• Part of the year's investment cost that is directly expensed in ground rent income (registered).

Balance depreciation etc. in power companies

There is a separate menu with an overview of all balance depreciation in the company, where you can see the special power plant fields. In this screen, you can filter on power plants and on basic interest treatment.

In this menu, you can export the existing balance depreciation, make adjustments to these in Excel, and import data back. You can choose to import everything, or only import data that applies to the specific power plant fields.

It is also possible to import data from Excel without performing an export first. In such cases, a template is used for import which is displayed for download when the import function is selected.

Fixed asset register

Separate operating assets in power companies acquired in previous years

Fixed assets that are of the type special fixed asset in power companies do not have an indication/link to fixed asset if it was acquired in previous years.

Access from previous years must be registered in the fixed asset register without reference to which specific fixed asset this belongs to. In order to update a special fixed asset in a power plant, you must therefore register previous years' acquisitions in two places, both in the asset catalog and in an overview of acquisitions for a special fixed asset in a power company.

Any disposal of such a fixed asset must be registered both in the fixed assets register and in special fixed assets in power companies.

Access/improvement to Separate fixed assets in power plants acquired in the current year

A special fixed asset in a power plant consists of a main fixed asset and one or more acquisitions of these. The fixed asset register can only enter references to a main operating asset that already exists. New operating assets must therefore first be registered in an overview of special fixed assets in power plants. After this has been done, you can enter the year's expenses for these.

The year's access can, if desired, if you use the fixed asset register in Period & Year, be registered in the fixed asset register and linked to the operating asset, so that it is only registered in one place.

If an access is deleted in the fixed asset register, it will also be deleted as an acquisition in the special fixed asset in the power company.

The import function in the fixed asset register

In the case of imports into the fixed asset register, there is only support for imports of acquisitions in previous financial years. When importing this year's acquisitions, the following applies:

• The acquisition is marked with Accounting presentation.

• The acquisition must also be imported in the function for importing acquisitions for special fixed assets in power companies.

See Items, fields and topics in the new tax return for businesses for more information.