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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 - Checkbox showing whether the depreciation allocation entry will be reversed.
- Project / Project Task / Project WBS - Shows where the original depreciation cost was allocated.
- Business Activity - Business operation related to the depreciation cost.
- Resource - Fixed asset or equipment linked to the reversed depreciation cost.
- Expense Item / Cost Item - Defines the type and category of depreciation cost being reversed.
- Time Card - Reference to the original asset usage record.
- Quantity / Amount - Usage hours and depreciation cost amount being reversed from the project ledger.
Additional Information tab
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