Understanding Asset Acquisition Years

The system uses date patterns and asset acquisition years to compute depreciation. Date patterns define the beginning date and all period-ending dates for a designated fiscal year. When you run the depreciation program, the system generates depreciation journal entries only for assets that have a date pattern that is set up for their year of acquisition and every year thereafter.

You must define asset acquisition years for every company. You must also define the date patterns for every asset acquisition year and each year thereafter for any asset that you are still depreciating. For example, if you have assets in the system that you acquired in 1945, you must set up January 1, 1945 as an asset acquisition year and the date patterns for all the years from 1945 throughout the current fiscal year that is defined in the system.

If you use 4-4-5 or daily accounting to compute depreciation, you must define date patterns at least one year into the future for the expected life of the longest-lived asset.

See also:

• "Setting Up Fiscal Date Patterns" in the JD Edwards EnterpriseOne Applications Financial Management Fundamentals Implementation Guide.