Review Depreciation Calculations
Inventory Control Menu -> Depreciation -> Calculate Depreciation -> REVIEW
button -> Review Depreciation Calculations
After Calculate Depreciation is run,
the depreciation calculations can be individually examined in this
utility and adjustments can be made if needed. Transactions can be
deleted and additional entries can be added manually.
This utility can be accessed by clicking on the
REVIEW button in Calculate
Depreciation.
To identify the Fixed Asset Tag numbers to be changed, Print Depreciation Report can be run first but
do NOT accept the report until all tag adjustments are
completed.
If your firm does not post depreciation automatically to the
G/L, adding manual entries can be useful if adjustments are
required to balance to historical depreciation totals.
Depreciation transactions are tracked in the depreciation
history and identified as manual adjustments or automatic
entries.
Depreciation records generated from the 'Percentage of Rental
Revenue - No Post' identified as Code #, can also be reviewed and
edited here. These records by-pass Calculate
Depreciation.
The prompts are:
-
- ASSET TAG NUMBER
- Enter the Fixed Asset Tag number to be reviewed or look it up
in the Product Search For Asset Tag window.
Note: To browse through the calculations, press Page Down
when the cursor is in the first input field to view the records one
by one in a forward direction.
DEPRECIATION DATE
- This is the date for this depreciation calculation.
SEQUENCE #
- Generally 001 will display.
For a second depreciation entry on the same date, 002 will display,
etc.
PRODUCT NUMBER
- The product # and description of this item will display.
DEPRECIATION CLASS
- The depreciation class assigned to this Tag will display.
DEPRECIATION METHOD
- The depreciation method code (e.g. S for Straight Line, D for
Declining Balance) will display.
DEPRECIATION QUANTITY
- The quantity on hand at the time of running the depreciation
will display.
OPERATOR CODE
- The operator which recorded this depreciation record will
display.
DEPRECIATION BASE AMOUNT
- This is the inventory cost which was used in the calculation
and is determined by the Depreciation
Method.
i.e. 'Net Original Cost' per the Tag would be the base for Straight
Line or 'Book Value' per the Tag (cost less accumulated
depreciation) would be the base for Declining Balance
Note: Using a 'Straight Line 'method with a residual percent
setup in Depreciation Classes, the
Depreciation Base To Exclude Residual flag in the Company Posting Parameters controls whether the
depreciation calculation is based on the full cost of the
equipment, or on the cost of the equipment less the
residual.
DEPRECIATION RATE
- This is the rate of depreciation used for this run.
For Straight Line and Declining Balance methods, this will equal
the Depreciation Rate divided by the # Deprns as setup in
Depreciation Classes.
e.g. 24.00 % divided by 12 depreciation runs = 2.000% per
month
BASE ACCUMULATED DEPRECIATION
- This is the depreciation already taken, which was used in the
calculation.
DEPRECIATION AMOUNT
- This is the depreciation amount calculated for this run.
This amount is calculated according to the depreciation method, and
depreciation class.
e.g. If the depreciation method is Straight Line, the Depreciation
Base multiplied by the Depreciation Rate equals the Depreciation
Amount (provided the residual is not exceeded).
SYSTEM RUN DATE
- This is the system date when the Operator actually made the
entry.
LOCATION
- This location reflects the selection made in Calculate Depreciation:
- For Non-bulk products, this location reflects either the owning
location per the Fixed Asset Tag, or the
actual inventory location (RSIL).
- For Bulk products the location is either the owning location
associated with the corresponding Fixed Asset
Tag, or Head Office as the actual inventory location cannot be
matched correctly with the quantity on the tags.
A window is provided to select from valid locations when
recording a new depreciation transaction.
Finished?
- Click the ACCEPT button to accept the changes.
ACTIONS:
Additional actions provided by buttons on
the Review Depreciation Calculations screen include:
- Delete Unposted Depreciation Information:
Click the CLEAR button to delete any depreciation
records that have been generated but that should never be posted to
the inventory sub-ledger, as outlined in Clear
Unposted Depreciation.
This button is only enabled when no specific asset tag depreciation
is being viewed.
Topic Keyword: RSAD01