Calculate Retroactive Depreciation

Menu Path: Fixed Assets > Entry & Processing > Fixed Assets > Asset Information > click Depreciate

The Asset Depreciation page's Retro Depreciation option lets you calculate accumulated depreciation retroactively from the time of an asset's acquisition. However, the retroactive depreciation process does not record depreciation expense or post entries to the general ledger.

This option only updates assets that meet the following requirements:

• The acquisition date (Date Acquired) is in a prior year.
• The Depreciable field is selected.
• The Depreciation Method is SL (Straight Line).
• Accumulated Depreciation is zero.
• The asset is not retired (Disposal Date field is blank).

The retroactive depreciation process updates the Accumulated Depreciation field on records of all assets that are depreciated based on the above criteria.

You should only run the retroactive depreciation process up to the end of the prior fiscal year. From that time forward, use the standard Post Depreciation option. You cannot post depreciation to an asset through a given date more than once.

Calculate Retroactive Depreciation

1. Choose the Asset Information page.
2. Enter criteria identifying the records to list, then click Find. To run an advanced search, select Advanced.
3. If you only want to depreciate an individual asset, select the asset in the List Section.
4. Click Depreciate.
5. Select one of the following:
   • All to depreciate all assets listed on the Asset Information page.
   • One to depreciate only the asset selected.
6. Complete the fields as needed. For this projection, you must select Retro Depreciation.
7. Click OK.
8. Click Yes.
9. Specify how you want to generate the report.
10. Click OK.
    The system calculates retroactive depreciation, updates the appropriate asset records, and generates the Retroactive Depreciation report based on your print settings. The default file name is depdetal.rpt for the Detail Report and depsummy.rpt for the Summary report.

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