Depreciation
- Review the Monthly Depreciation Report to verify accuracy.
- Update depreciation for all or specific assets or departments.
- Calculate Monthly Depreciation using straight line method:
Cost less Salvage Value / Estimated Life = Monthly Depreciation.
- Post Monthly Depreciation to update the following:
- YTD and Accumulated Depreciation amounts for each asset
- Book Value for each asset:
Cost less Accumulated Depreciation less Salvage Value
- Last Post Date
- GL expense accounts for Depreciation and Accumulated Depreciation
(if integrated with General Ledger)
- When you post for period 12, purge sold and fully-depreciated items.
