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Total Months = Years * 12 + Months
Fixed Assets Fields | |
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Column Name | Description |
Depreciation Name | Describe the depreciation method you are creating so you can easily look it up - example 5 yr Straight Line |
Depreciation Type | Please Select Straight line |
Service Years | this is the number of years of your asset life - so if the asset had a life of 2.5 years then this would be 2 years |
Service Months | this is the number of months to be added to the years to get your asset life - so if the asset had a life of 2.5 years then this would be 6 months (1/2 year) |
Service Date | This is the date that depreciation will be calculated from - leave blank |
Depreciation convention | See next page |
Year | This designates the time period that the depreciation percent will apply to - there should be an entry with associated percentage for each year depreciation is taken |
Percent | Must total 100 percent. This is the percentage each year that will be applied to the basis to calculate depreciation - for example if this column was 10 and your asset had a basis (Cost less Salvage value) of 120 then the annual depreciation would be 12 and the monthly depreciation would be 1. This is expressed in whole number 10=10% |
? | At any time, user can select the "?" to get more details on the "Depreciation Methods" Screen |
Audit Log | The "Audit Log" Tab will show changes that were done and by who |
Location should show the Default location based on Location setup in
System Manager | Users| Menu - Entity Screen |User| Detail tab - Default Location
- Note that this will drive the location segment override on the general ledger if selected
- this will use the location segment set up in the company location to override the account code (see below locations override)
Date the asset was placed in service and depreciation should begin - should lock when depreciating or retiring.
Currency should show based on selected currency in
System Manager | Company Configuration | System Manager tab - Functional Currency
Overview
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