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The Recognized by Time Cards tab is used to allocate distribute and adjust fixed asset depreciation costs based on the actual usage time of fixed assetstime the assets were used. Data appears in this table only when time cards with the cost allocation option enabled are recorded within the same accounting period and share the same analytics, including project, department, and fixed asset.
The system can reverse previously allocated depreciation entries transactions and create generate new allocations using according to the usage hours recorded in asset time cards. This ensures that allows depreciation expenses are distributed accurately across projects according to how long the asset was usedto be allocated accurately to projects based on actual asset usage.
Only time cards entered within the selected accounting period are considered for included in the allocation process, ensuring depreciation costs are posted to the correct appropriate period.
- Reverse - Indicates Checkbox showing whether the depreciation allocation entry is will be reversed.
- Project - Project associated with the depreciation cost allocation.
- Project Task - Specific project task receiving the depreciation allocation.
- Project WBS - Work Breakdown Structure level used for detailed depreciation tracking/ Project Task / Project WBS - Shows where the original depreciation cost was allocated.
- Business Activity - Business activity linked operation related to the depreciation allocationcost.
- Resource - Fixed asset or equipment generating linked to the reversed depreciation cost.
- Department - Department responsible for the asset or depreciation expense.
- Expense Item - Type of expense recognized, such as asset depreciation.
- Expense Item / Cost Item - Cost category under which the depreciation expense is recordedDefines the type and category of depreciation cost being reversed.
- Time Card - Reference to the original asset usage or operational time record used for allocation.
- Quantity / Amount - Number of usage hours or units recorded for the asset.
- Amount - Monetary value of the allocated depreciation cost in transaction currency.
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- Usage hours and depreciation cost amount being reversed from the project ledger.
Additional Information tab
On this tab, users can enter optional details for the document, such as the department and the person responsible for the allocation. No fields are mandatory.
