Review/Adjust Depreciation

Access this form using Activities>Fixed Assets>Review/Adjust Depreciation.

Use this form to review calculated depreciation and disposed depreciation, and to add or make changes to adjusted depreciation. If you want to view an asset with calculated depreciation that has not been transferred, you can do this here, as well. However, you cannot make changes to the calculated depreciation.

Begin by selecting a category in the Category box. Then, select the Category or All Assets option button to determine which assets are available in the Asset ID box. The system displays Amount to Depreciate and Last Depreciation Date. For adjustments, enter the adjustment Date, Description, and Amount in the Adjustments table.

Asset Information

• Category: Select the category for the assets you want to review or modify. The drop-down list contains all active and inactive categories you set up using the Maintain>Fixed Assets>Assets form. Once an Asset ID is selected, the system displays the category associated with the selected ID.
• Asset ID: Select the asset you want to review or modify. If you selected the Category option button, the drop-down list only contains asset IDs associated with that category. If you selected the All Assets option button, the drop-down list contains all active and inactive assets (except for assets with a depreciation code of "No," zero book value check box selected, or uncalculated assets with a blank Last Depreciation Date), regardless of the category you selected in the Category box. You created assets and their categories using Maintain>Fixed Assets>Assets.
• Amount to Depreciate: The system calculates and displays an amount based on cost minus salvage entered for the asset. This is the maximum amount to be depreciated.
• Last Depreciation Date: The system displays the date the asset was last depreciated. You entered this date for new assets on the Maintain>Fixed Assets>Assets>Depreciation tab. The system updates this when you transfer depreciation to your general ledger.

Select Depreciated Assets From

• Category: If you select this option button, all the categories that you have set up (Maintain>Fixed Assets>Assets) display in the Category drop-down list.
• All Assets: If you select this option button, all the assets you created using the Assets form or the Asset Quick Entry form display in the Asset ID drop-down list.

Adjustments Table: Once you select an asset ID, this table becomes available so you can make adjustments to the selected asset. You cannot enter an adjustment, if this is the first depreciation calculated and it has not been transferred.

• Type: The system displays a depreciation type of Calculated Depreciation, Adjusted Depreciation, or Disposed Depreciation.
  • Calculated Depreciation was generated from Activities>Fixed Assets>Calculate Depreciation.
  • Adjusted Depreciation was generated from this form.
  • Disposed Depreciation was generated from Activities>Fixed Assets>Enter Disposals.
• Date: Enter a valid date for this adjustment. The date must be on or before the Last Depreciation Date.
• Description: Enter a transaction description for this adjustment.
• Amount: Enter the amount you want to adjust the depreciation for the selected asset.
• Total Amount: The system totals the depreciation amounts currently displayed in the table.