Depreciation can be calculate automatically by system or input by user manually.
Calculate Depreciation by System
1. Go to Fixed Asset page
Under Actions tab, click "Calculate Depreciation".
2. Input related fields
Field | Details |
|---|---|
| FA Posting Date | Same as Posting Date |
| User Force No. of Days | Turn on this option only if user wish to set no. of days to calculate depreciation |
| Force No. of Days | Input 30 days if user wants to have same depreciation amount every month. If not, system will use no. of days of that particular months for calculation. e.g. January - 31 days, February - 28 or 29 days |
| Posting Date | Same as FA Posting Date |
| Document No. | Document |
| number for the FA |
| depreciation entries | |
| Posting Description | After posting, the description will be carried to General Ledger Entries |
3. Check and Post Fixed Asset G/L Journal
System will then calculate and generate journal entries to Fixed Asset G/L Journal.
...
Once checked the system generated entries, if it is ok, then user can post the entry.
Input depreciation manually
1. Fixed Asset G/L Journal
Account Type: Fixed Asset
Account No.: Choose the Fixed Asset for deprecation
FA Posting Type need to choose "Depreciation"
Then complete that double entry by input the balancing account.
Then Post the Journal
