Set up a Depreciation Schedule
You can set up the depreciation of an asset template after the general information has been completed, and you have clicked the Save or Finish Editing button. This is optional in a template.
Depreciation schedule columns are predefined. Columns are populated based on the depreciation calculation.
Note: Before you can create a depreciation schedule for an asset, you must populate the data set for the SYS Depreciation Name data definition. To do this, use the instructions under Adding and Managing Data Sets
To set up depreciation
- Go to the Company Workspace tab and switch to Admin mode.
- Click Asset Manager in the left Navigator and select the asset class. The asset log for the class opens.
- Click the Open button. The asset class form opens.
If you previously clicked the Finish Editing button for the form, you can make it editable again by clicking the Edit button at the top of the form.
- Click the Depreciation Setup button. The Depreciation Setup window opens.
- Add a row by clicking the Add Row button.
- Complete the information for the depreciation setup as described in the table below.
- Click OK to save and exit the window.
- When the asset template is complete, click Finish Editing.
In this field: | Do this: |
---|---|
Default | Choose one of the depreciation methods to use as a default for the assets that are created based on this template. This is optional. |
Name (required) | Select from the drop-down list. The list is managed in the depreciation data source data definition. |
Depreciation Method (required) | This drop-down lists the following depreciation methods: Straight line method Double decline method Sum of years digits Manual |
Timescale Units (required) | This value determines the frequency of asset depreciation: Months: Asset will be depreciated every month Quarters: Depreciate asset quarterly Years: Depreciate asset yearly |
Factor% | This is required for the double decline depreciation method. It is the value entered while defining the depreciation definition. Enter a percentage value, usually 200% or 150%. |
Last Published Saturday, July 13, 2024