Post Depreciation

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

Use this option to calculate and post depreciation for one asset or for a group of selected assets. For each asset, you can post depreciation as often as once each month in a fiscal year.

You can post depreciation only through the end of the previous month. You cannot post part of the current month, plus you cannot post depreciation of an asset through a given date more than once. Also, to post an asset, its Post to G/L checkbox must be selected.

When you post depreciation:

The Last Posted Date of the asset updates.
The Accumulated Depreciation increases by the calculated amount.
The Remaining Value decreases by the calculated amount.

, The Depreciable checkbox clears when an asset fully depreciates. For an explanation of how the system processes depreciation, refer to Depreciation Process.

Before using the Post Depreciation option, you should run the Calculate Project option so that you can review the calculated depreciation before attempting to post.

Posting the depreciation creates a batch of journal entries in the file FXASSET. The entries can be reviewed and then posted to the General Ledger using Fund Accounting's Batch Journal Entries option.

Post Depreciation

Choose the Asset Information page.
Enter criteria identifying the records to list, then click Find. To run an advanced search, select Advanced.
If you only want to depreciate and post an individual asset, select the asset in the List Section.
Click Depreciate.
Select one of the following:
- All to depreciate all assets listed on the Asset Information page.
- One to depreciate only the asset selected.
On the Asset Depreciation page, select Post Projection.
Complete the fields as needed.
Click OK.
Click Yes.
If the system finds fatal exceptions, you must either correct them, or repeat this procedure and select different assets in Step 2.
If the system finds other exceptions, a dialog listing the number of exceptions displays. Otherwise, proceed to Step 12.
- Click Yes to enter your settings for the Exception Report, then click OK to generate the report. The report default file name is postexcp.rpt. After the report runs, After the report runs, continue with Step 12.
- Click No to proceed.
Enter your report settings.
Click OK. The default file name is depdetal.rpt for the Detail report and depsummy.rpt for the Summary report.

Fields

Field

Description

Depreciation Information

Select Post Projection.

Depreciate assets up to and including

Select the Month (1-12) and Year through which the system should calculate projected depreciation.

The system defaults the previous month in the current fiscal year, but you can change to an earlier month if appropriate. For example, if the default date is 10/2018, but you want to depreciate only through 8/2018, change the month field to 8.

You cannot post depreciation to a previous fiscal year, a future date, or to the next fiscal year. Generally, you also cannot post depreciation in the current fiscal year month.
You can post depreciation for the last month of the fiscal year anytime after the 15th day of that month; the last post date will be updated with the fiscal year-end date.

Report Type

Select:

Detail - The Detail report lists the department, category, Asset ID, description, asset life and method of depreciation, initial cost, year-to-date depreciation, and depreciation accumulated to date for all assets processed, organized by department and category. It also prints totals for each department and category included in the report, along with totals for the entire report.
Summary - The Summary report shows only the totals for the initial cost, year-to-date depreciation, and depreciation accumulated to date for each department and for each category within each department.

The report is sorted by department and category for both formats.