Print Depreciation Report

This report lists the depreciation amounts calculated for this Depreciation Run, as generated from Calculate Depreciation.
It provides complete depreciation information on the rental equipment by Fixed Asset Tag, including disposals, additions and transfers, per each tag.
On the report, the disposal and transfer out amounts reduce the Opening Value for depreciation and the addition amount increases the Opening Value.

The Depreciation Report printed by Product Class or Depreciation Class displays a Suspension flag in the 'S' column and the date the suspension expires for relevant products.
Refer to Product Suspension Information for details on this feature.

The Depreciation Report provides Totals, Class sub totals, and Location totals for disposals, additions, transfers and accumulated depreciation.

Note: The Accumulated Transfers field on the Fixed Asset Tag is automatically updated whenever an item is transferred out to an external branch, or transferred out from a rental to a sales product.
No posting is required to update this field in the tag.

If the Depreciation Report and posting is accepted, the Fixed Asset Tags in the inventory sub-ledger are updated with the Depreciation amounts on the report.
If the depreciation amounts are not being automatically posted to the G/L then journal transactions should be made manually to the G/L for depreciation of the inventory.

Post Depreciation to the G/L:

A flag in the Company Posting Parameters, automates posting of depreciation for Rental Equipment to the General Ledger.

When the posting to the G/L option is activated, a Posting Summary report also prints from Print Depreciation Report.
When this is accepted, the depreciation transactions are posted to the G/L as printed on the summary report.

The posting accounts for Accumulated Depreciation and for the Depreciation Expense, default by class, as setup in the Depreciation Accounts windows of Depreciation Classes.
The depreciation transactions post in summary by division.
The divisions are determined by the Owning Location of each bulk or non-bulk product as defined on the associated Fixed Asset Tag.

The prompts to generate the depreciation calculations are:

REPORT SORT METHOD

The sorting order which is selected will depend on how your firm needs the report totals to appear.
Select one of the following sort options:

• Select Product Class to have the report list in Product Class number order.
  This will result in depreciation subtotals for each Product Class on the report output.

• Select Depreciation Class to have the report list in Depreciation Class number order.
  This will result in depreciation subtotals for each Depreciation Class on the report output.

• Select Product Number to cause the report to list the products in product number sequence.

PRINT BY LOCATION

Uncheck this box if sorting by location is not required.
Bulk and non-bulk equipment will be included in the same report.

Check this box for the report and totals to print by location for bulk and non-bulk equipment.

SORT BY CLASS/LOC

This option does not apply to the Product Number sort method.

Check this box to sort by Location within each Class.
Conversely uncheck this box to sort by Class within each Location.

NEW PAGE PER CLASS

Check this box to print a new page for each class.
Uncheck this box if the report does not need to be paged by class.

PRINT SECOND DETAIL LINE

Check this box for the second line each item to print. This shows the description, serial number and date acquired.
The information on the Second Detail Line is always included on the Excel output option.

Uncheck this box if the second line is not required on the report.

REPORT OPTIONS

This value defaults to the operator preference as defined in Operators.
Select one of the output options to Print a report or export the data to Excel as outlined in Report Options.

Finished?

Click the ACCEPT button to begin printing the report, or CANCEL to abort.

Accept Report and Post Confirmation?

After the Depreciation report has been generated, the option to post Depreciation Transactions is provided.
Review the report before responding.

Click NO if the report is not correct or did not get printed successfully.
If the report is not accepted, then the report is considered an Edit only and may be discarded.

Click YES to accept the report and to complete the posting.

Post to Inventory Sub-Ledger:

The amount of depreciation on the report is used to update the Accumulated Depreciation on the Fixed Asset Tags in Rental Inventory.
When the report is accepted, the depreciation amounts are also recorded in Review Depreciation History.

Post to General Ledger:

If the option to post depreciation to the G/L has been activated in the Company Posting Parameters, then a Summary report is also generated listing the G/L accounts and amounts to be posted.
When the Depreciation is accepted the Accumulated Depreciation on the Fixed Asset Tags are updated in the inventory sub-ledger and the depreciation transactions are posted to appropriate accounts in the G/L.

Note: If your firm does NOT use the automatic posting function for depreciation of assets as explained above, then the General Ledger is not yet updated at all.
To keep your Fixed Asset Tags in balance with the General Ledger, make the Depreciation Journal entry manually.
Using the Depreciation Report totals as your guide, make the Journal entry to the General Ledger Depreciation Accounts, using Miscellaneous G/L Journals.
Consult your Accountant for guidance on the General Ledger Accounts and the amounts.

EXCEPTION: When depreciation method % is used, the G/L posting is always done for the calculated depreciation amount at the time the revenue posting is done for the Invoice in the Daily Close.