Page History
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*Take note of Depreciation Name
4. In the grid, enter these % Percentage
- % Percentage: 100
5. Click Save button
6. Click Close button
7. Click Close button
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*Take note of Asset No
*Take note of Asset Description
*Take note of Serial No.
4. Go to GL Accounts tab and set GL Accounts <How to Create GL Accounts for Fixed Asset>
5. Click Save button
6. Go to Depreciation Methods tab and verify information
7. In Depreciation Methods tab, add a record for booking of Tax
8. In a new row, add this record
- Book: Tax
9. Click Save button
10. Click Close button
11. Click Close button
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3. Click Create Asset button
*Take note of Transaction Id generated in the message.
4. Click OK
5. Click Close button
6. Click Close button
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Depreciate Single Asset
1. Fixed Assets > Activities > Fixed Assets
2. Filter for this record and click Open Selected button
3. Click Depreciate button
*Take note of the Transaction ID for GAAP
4. Click Close button
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- Transaction = Place in service
6. Click Depreciate button
*Take note of the Transaction ID for GAAP
7. Click Close button
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- Transaction Id = <Transaction ID for GAAP noted is Step 6>
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- Sample computation used these dates:
- Date Place in Service is 27, since today is 10/27
- The below numbers vary based on the date of Date Place in service.
- computed as:
- Actual Days = (End of This Month - Date Place in service) + 1
- = (31 - 27) + 1
- = 5
- Depreciation per Month = Basis /12
- = 900/12
- = 75
- Depreciation per Day = Depreciation per Month/No. of Days for This Month
- = 75/31
- = 2.419354
- Depreciation per Day x Actual Days
- = 2.419354 x 5
- =12.10
9. Click Close button
10. Click Close button