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Can I enter an asset for depreciation but set it to not depreciate until a future date?

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Level 1

For example, we have a fee for design on an exterior project that has been paid and will go towards the cost of the entire project and can be depreciated, however, the build and other expenses will not be incurred until possibly 2021. Our accountant advises to run this as a fixed asset but to not depreciate until the future date. Do I just add it to the schedule and then not hit the "calculate current" or "calculate prior"? 

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Level 15

I would keep it completely out of the depreciation system until it is ready to be depreciated.  Keep track of the costs in the general ledger as they come in but don't load it into the depreciation schedule until the asset is put into use.

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Level 1
Thank you!
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Level 12

It's not Fixed Asset; it's Other Asset, as prepayment for the project, such as Construction In Progress (CIP) or Vendor Prepayment. It is still your asset until the work is done and in service (or the funds are returned or considered wasted), but not as Fixed Asset, because nothing has been placed in service. You cannot depreciate something that doesn't exist, yet.

The project will be depreciated; not the prepayment or progress payments.

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