Fixed Asset Depreciation is one of important month end procedures in order to recognize allocation of assets cost over the its useful life. You can run depreciation against Depreciation Book so all fixed assets whichever are belonged to the Depreciation Book can be calculated by system.
- Go to Departments/Financial Management/Fixed Assets/Periodic Activities and click Calculate Depreciation
- Calculate Depreciation window will pop up. Drill down arrow and select Depreciation Book
- Drill down arrow in FA Posting Date. Select the date (typically last day of the month)
- Do not insert check mark in “Use Force No. of Days:” and leave “Force No. of Days:” unless you want to use arbitrarily period.
- Enter Posting Date which is same to FA Posting Date
- Type Document No.
- Type Posting Description
- Insert check mark in “Insert Bal. Account:”
- Do not filter Fixed Asset fast tab unless you want to depreciate specific group only
- Click OK. System will calculate depreciation journal entries in Fixed Asset G/L Journal. Go to Departments/Financial Management/Fixed Assets/Tasks/FA G/L Journals
- Review the depreciation journals and click Post or Post and Print.
- Click OK
- Go to Departments/Financial Management/General Ledger/History/G/L Registers
- Go to the last No. (hit Ctrl and End keys)
- Click General Ledger icon in the Ribbon
- Verified G/L journals and Close
User should be able to depreciate fixed assets as you've seen a screenshot.