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.