Entering Unplanned Depreciation for an Asset
You can enter unplanned depreciation expense for an asset to comply with your country's accounting rules, or to handle an unusual accounting situation. When you enter unplanned depreciation, you can choose in which period to begin amortization of the asset's remaining net book value.
To enter unplanned depreciation for an asset:
1. Navigate to the Asset Workbench.
2. Find the asset for which you want to enter unplanned depreciation, and choose the Books button.
3. In the Books window, enter a Book. You can enter unplanned depreciation for an asset in a corporate or tax book.
Note: You cannot mass copy unplanned depreciation amounts from the corporate to the tax book. If you want to enter the same unplanned depreciation in the tax book, you must enter it manually.
4. Optionally enter a reason for the unplanned depreciation in the Comments field. You can use this field to find the transaction later if necessary.
5. Choose the Unplanned Depr button to open the Unplanned Depreciation window.
7. Enter the amount of unplanned depreciation expense as a positive or negative currency amount. Unless you are entering unplanned depreciation for a credit asset, the unplanned depreciation amount cannot exceed the net book value of the asset.
8. Enter the complete unplanned depreciation expense account.
9. Check the Amortize From Current Period check box to amortize the unplanned depreciation starting in the current period.
Alternatively, leave the check box unchecked if you want to amortize the remaining net book value in a subsequent period. Then, in the period you want amortization to start, enter an unplanned depreciation amount of zero for the same asset and expense account, and check the Amortize From Current Period check box. Oracle Assets amortizes the net book value starting in the period you perform this change.
Attention: The value of this check box overrides the value of the Amortize Adjustment check box in the Books window.
Attention: If you make any amortized adjustment, for example a cost or life adjustment, to the asset after entering an expensed or amortized unplanned depreciation, Oracle Assets begins amortizing the remaining net book value, which includes the unplanned depreciation amount, from the period you make the amortized adjustment.
10. Choose Done to save your work.
See Also
Unplanned Depreciation
Unplanned Depreciation (German Globalizations)
