Depreciation is the periodic adjustment made to an Assets book value. This function calculates depreciation based on the selected Assets Depreciation Last Run date and its Depreciation Method.
1. Select the Depreciation option from the Transaction menu.
2. Alternatively you can select the Depreciation button from the main window toolbar.
3. Either option will create the Fixed Assets Depreciation Run screen.
4. The Depreciation Run screen performs a Depreciation Run which reduces the Written Down Value of selected Assets.
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Field |
Description |
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Date |
Enter the date you wish the depreciation to be calculated up to. Assets depreciated on a Daily basis will have depreciation calculated up to the first date, assets depreciated on a Monthly basis will have depreciation calculated up to the Non-editable second date. This date is the end date of the current financial period. |
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Print Depreciation Run Listing Check Box |
If the Print a Depreciation Run Listing Box is checked, a report will be printed listing all assets that were depreciated along with the amounts of depreciation calculated. This report will print out after pressing the OK button. This report can be reprinted with the Reprint Depreciation Run Listing function in the Reports Menu. |
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Group/Asset Fields |
By making selections in the Group/Asset fields the Groups/Assets selected will only be depreciated. As few as one Group or one Asset can be depreciated at a time by using a combination of the selection in these combo boxes. |
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The Ok Push Button |
The OK button calculates the depreciation due and creates an unposted Fixed Asset journal for each asset in each depreciation period. The automatically generated journals can be amended by using the Journals function. Journals are posted in the Journal Update screen at which time GL Journals are raised if a General Ledger is installed and after which the journals cannot be amended. |