We have an asset that needs to be capitalized in local GAAP but it needs to be depreciated in full in US GAAP. The reason being it is considered a cost in US GAAP and asset in local GAAP. While creating the asset, user did not enter useful life as "0" in US GAAP for the asset. Depreciation for last 3 periods is already posted.
In this case, what would be the best approach to correct this scenario.
We tried changing the useful life of the asset in US GAAP to "0" but, the system is throwing an error message "Make required entry".
Is there any alternative approach that should be followed ?
Thanks !