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Note. The edited document will not be automatically recalculated by the Month-End Closing assistant. So, if at the month end, the data changes, you will need to manually update the document marked for Manual Processing.
The "Fixed Asset Entry Depreciation (create)" form
Click Add on the toolbar to append a line for a fixed asset.
In the Fixed Asset column, select a fixed asset to be depreciated in the specified month.
Make sure that the Initial Cost column The Gross Cost subcolumn shows the initial cost of the fixed asset.In the Depreciation Method column, you can notice asset as in the Fixed Asset Entry document or its revised cost as in the Changes of Fixed Asset Parameters document if the cost was changed.
The Salvage Value subcolumn shows the asset net book value at which depreciation must be stopped.
The Depreciation Method column shows one of the following available depreciation methods that was assigned to the fixed asset:
- Straight Line: To To calculate depreciation in equal monthly amounts during the fixed asset useful life. Depreciation stops when the net book value becomes equal to the salvage value.
- Units of Production: To To calculate depreciation amounts proportionally to actual usage of the fixed asset.
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- If salvage value is greater than zero, depreciation stops when the net book value becomes equal or less than the salvage value.
The Useful Life (Months) column column (available for the the Straight Line method) is populated with the number of months the fixed asset is being planned to be used. In the UOM column (available for the Units of Production method), select The Useful Life for Depreciation Calculation (Months) subcolumn shows the number of months the asset should be depreciated after the change of parameters. The Remaining Useful Life (Months) subcolumn shows the number of months during which depreciation must be done after the current month.
The UOM column (available for the Units of Production method) shows the unit of measure selected for usage.
The The Estimated Production Volume subcolumn subcolumn is used only for assets for which the the Units of Production is is selected as the depreciation method. It is populated with the production volumes (usage) required for the asset full depreciation or for reaching the salvage value if it is greater than zero. In the the Accumulated Production Volume and and Current Production Volume subcolumns subcolumns, the sum of production volumes accumulated over the previous periods and the current production volume measured volume measured in the specified UOM are shown respectively.
The Cost for Depreciation Calculation subcolumn The Depreciable Cost subcolumn is populated by default with default with the initial cost of the asset. If the fixed asset had been revaluated which is registered in the posted posted Change of Fixed Asset Parameters document document, it is the revised cost after revaluation. The The Accumulated Depreciation subcolumn subcolumn shows the sum of depreciation amounts calculated in previous periods, since the start of depreciation.
The The Current Depreciation Amount subcolumn subcolumn is populated with the depreciation amount calculated for the current month. If you are manually processing the document, you can edit the amount.
The The Net Book Value column column shows the remaining cost of the fixed asset which is the difference between the gross cost (the initial cost ( or the revised gross cost in the Cost for Depreciation column if differentlatest posted Change of Fixed Asset Parameters document) and the accumulated depreciation.
The The Project/Project Task column column (available if the the Project Costing functionality functionality is turned on on the the Administration > > Settings > > Project Costing form form) links this fixed asset with a project from the the Projects list list and if the the Enable Project Tasks option option is selected on the the Administration > > Settings > > Project Costing form form, links to a specific task of this project.
The The Department column column shows the department or warehouse to be linked with the depreciation costs and to usage of this fixed asset and its depreciation costs. If you need, you can change the department.
The In the Expense GL Account column shows the /Expense Item /Business Activity subcolumns, you can view he default GL expense account selected for transactions with the fixed asset.In the Expense Item /Business Activity subcolumns, you can view the expense item associated with this fixed asset depreciation costs and the business activity with which this fixed asset is associated, respectively. If needed, you can change these analytics.
In the Cost Object column, you can view the cost object with which the depreciation cost is associated. You can link the depreciation cost to another cost object.
The Project/Project Task column (available if the Project Costing functionality is turned on on the Administration > Settings > Project Costing form) links this fixed asset with a project from the Projects list and if the Enable Project Tasks option is selected on the Administration > Settings > Project Costing form, links to a specific task of this project.
The GL Accounts column shows the default GL accounts to be used for the fixed asset depreciation. Click any account presented as a link. The GL Accounts dialog box opens, and you can review the accounts..
The GL Accounts dialog box
In the Transaction Content column, provide a brief comment related to the fixed asset accepted for accounting.
The tab toolbar buttons
The Calculate button is used to update the data for the listed fixed assets if the data was changed by other documents.