Calculate fixed asset depreciation

  1. Click Fixed assets> Common Forms> FA journalto open the Journalform.

  2. On the Overviewtab, press CTRL+N to create a new journal.

  3. In the Namefield, select a journal name.

  4. In the Descriptionfield, view or modify the description of the journal.

  5. Click Linesto open the Journal voucherform.

  6. On the Overviewtab, press CTRL+N to open the Add to journalform to create a single depreciation transaction for one fixed asset.

    Note Note

    Click Group operations> Depreciationto create depreciation transactions for several fixed assets.

  7. In the Transaction datefield, select the date of the next calculation period. If no depreciation was calculated for the previous periods, depreciation transactions are created in the journal for all months prior to the transaction date, excluding the month of the transaction.

  8. In the Transaction typefield, select Depreciation.

  9. In the FA numberfield, select a fixed asset number.

  10. In the Value modelfield, select a fixed asset value model. If you do not select a model, transactions for all value models are created in the journal.

  11. In the Reason codefield, select a reason code.

  12. In the Reason commentfield, view or modify the reason for the depreciation transaction.

  13. Click OK. Depreciation transactions are created in the journal for all value models that you set up in the Value modelsform.

  14. Click Validate> Validateto validate the transaction details.

  15. Click Post> Postto post the journal. Fixed asset and ledger transactions are created.

Reverse fixed asset depreciation

  1. Click Fixed assets> Common Forms> FA journalto open the Journalform.

  2. On the Overviewtab, press CTRL+N to create a new journal.

  3. In the Namefield, select a journal name.

  4. In the Descriptionfield, view or modify the description of the journal.

  5. Click Linesto open the Journal voucherform.

  6. On the Overviewtab, click Group operations> Depreciation reversalto open the Depreciation reversalform.

  7. In the Reverse datefield, select a date for the depreciation reversal.

  8. In the Accountingfield, select a fixed asset value model.

  9. Click OK. Depreciation reversal transactions are created in the journal.

  10. Click Validate> Validateto validate the transaction details.

  11. Click Post> Postto post the journal. The fixed asset depreciation transaction is reversed and the ledger transaction is updated accordingly.

See Also