Fixed Asset Depreciation - Documentation Acosys

Used By

accounting or finance staff

Data Type

transaction

Search Keys

Date

When to Use This Form

When finance runs asset depreciation for month-end or period-end.
When the asset book value needs updating based on useful life and depreciation method.
When the depreciation journal needs to be created and traced through the journal reference.

Before You Start

Make sure the fixed asset list is complete, active, and has the correct asset groups.
Make sure the division to be processed matches the assets to be depreciated.
Check the depreciation period so a period that has already been processed is not duplicated.

Workflow

Open Finance / Fixed Assets / Fixed Asset Depreciation.
Fill in the invoice, date, division, journal reference, and a note if needed.
Run Calculate Fixed Asset Depreciation to build the list of assets to be depreciated.
Check the Fixed Asset Depreciation result before saving, especially the depreciation amounts and the assets included in the list.
Save once the period, amounts, and journal reference are correct.

Key Fields

Field	Explanation for Users	Status
Invoice `transid`	Invoice is the number of the fixed asset depreciation process.	Required
Date `transdate`	Date determines the depreciation period to be booked.	Required
Division `division`	Division indicates the business unit whose assets are being depreciated.	Required
Journal Reference `journalid`	Journal Reference links the depreciation process to the accounting journal that was created.	Required
Fixed Asset Depreciation `depreciationrecords`	Fixed Asset Depreciation contains the list of assets and depreciation amounts to be booked.	Required
Last Modified `updatetimestamp`	Last Modified is audit information filled in automatically by the application.	Optional

Details and Relations

This form has no detail table. The data is saved directly from the main fields.

What Happens After Saving

The depreciation amount is saved as a periodic fixed asset record.
The depreciation journal reference can affect the depreciation expense and accumulated depreciation accounts.
The asset book value can change after the depreciation process is saved.
If the period, division, or depreciation details are not valid, the application rejects the save and shows a validation message.

Common Problems

Depreciation cannot be saved: check the invoice, date, division, journal reference, and the depreciation asset list.
Depreciation amount is wrong: check the asset data, asset group, useful life, and depreciation period.
Asset is not in the list: make sure the asset is active and has not been disposed of.

Available Fields

The following list summarizes the fields available on the form. Rarely used fields are still listed so they are easy to look up during training or support.

Field	Explanation for Users	Status
Invoice `transid`	Invoice is the number of the fixed asset depreciation process.	Required
Date `transdate`	Date determines the depreciation period to be booked.	Required
Division `division`	Division indicates the business unit whose assets are being depreciated.	Required
Journal Reference `journalid`	Journal Reference links the depreciation process to the accounting journal that was created.	Required
Note `memo`	Note is used for additional remarks so the reason for the entry or data change is easy to understand.	Optional
Calculate Fixed Asset Depreciation `btndeprecproc`	Calculate Fixed Asset Depreciation is used to build the depreciation list based on the available asset data.	Optional
Fixed Asset Depreciation `depreciationrecords`	Fixed Asset Depreciation contains the list of assets and depreciation amounts to be booked.	Required
Created By `usercreate`	Created By is audit information filled in automatically by the application.	Optional
Modified By `useredit`	Modified By is audit information filled in automatically by the application.	Optional
Last Modified `updatetimestamp`	Last Modified is audit information filled in automatically by the application.	Optional

User Checklist

Invoice, date, division, and journal reference are correct. The list of assets being depreciated has been checked. The depreciation amount matches the period and asset data. The effect of the depreciation journal on the financial reports is understood.

Menu Location

Finance / Fixed Assets / Fixed Asset Depreciation
/form/fixedassetdepreciation