If needed for your business, you can define custom depreciation and amortization methods. Capital provides a Smart List entry called Custom. You can define a business rule to calculate depreciation or amortization as needed for your business, and then associate the new business rule with the Custom Smart List entry. The Custom Smart List entry is available in Depreciation and Amortization Assumptions.
To create a custom depreciation or amortization method:
- Using Calculation Manager, define a new depreciation or amortization rule.
When defining the business rule, set the deprMethod = 5 or set amortMethod = 3. These are the Smart List entry numbers for the Custom entry.
- Create an Action Menu menu object, for example named Custom Depreciation or Custom Amortization and associate the business rule you just created to the menu. From the Home page, click Navigator and then click Action Menus.
- Edit the form with which you want to associate the new menu option, for example, New Tangibles, and add the menu option to the form. See Administering Forms.
- In the Depreciation and Amortization Assumptions form, for the Asset Class that requires the custom method, select Custom.
Now, when users are creating a new asset, when a new asset requires the custom method, they can select the custom rule you defined from the Actions menu.
Note:You must use the custom rules with the Custom depreciation or amortization Smart List entry, and use provided rules for the provided methods.
Tip:To change the name of the Custom method, change the artifact label: From the Home page, click Tools, then click Artifact Labels, and then apply the filter to see Smart List Entry. Select your language, and then change the label for the custom OCX_AmortizationMethod or OCX_DeprMethod entry.