Process Depreciation – A summary of the activity

This activity allows process depreciation for various financial periods across various depreciation books for an asset. Depreciation processing must be done till the last day of the financial period/year for all assets, before closing the financial period/year. The processing can be run for few assets or many assets in batches. You can also include the revaluation cost of assets for depreciation processing. The system checks the number of assets selected in the “System Parameter” business component and runs the process accordingly. The assets can also be processed partially for the partial period and not the full financial period.

This activity allows you to assign assets to the depreciation category. The assets must be assigned to the category before running the depreciation process. You can also set the suspension period for an asset before processing depreciation and view the suspension period set. The depreciation will not be charged for an asset during the suspension period.

This activity also allows you to confirm or delete the process run. You can also delete the process run number whose assets are processed. You can also view the depreciation rule set before processing the depreciation. You can also view the asset details that are not processed before running the depreciation process. You can also view the depreciation charged for an individual by asset or by depreciation category. You can view the revalued depreciation charge charged on the asset or the depreciation category. This activity also allows you to view the accounting information.   

The system retrieves the depreciation rule set for an asset in the “View Depreciation Setup” activity of the “Asset Depreciation Setup” business component and process the depreciation based on the rule. The system updates the depreciation processing status for asset/tag/in-service combination to “Processed” on successful processing. The system updates the period start date and the end date as the depreciation start date and the end date. The system calculates the processing period as (processing end date – processing start date + 1).

Getting familiar with the pages inside

What you can do in this activity

Process depreciation for a single asset

Process the balance assets

Confirm depreciation process

Delete process run

Automatic calculation of depreciation

Post depreciation to the cost center

Include suspension and revaluation during processing

Delete suspension period

Modify assets assigned to category

Processing for whole financial period

View process status

Process depreciation for a single asset

The depreciation process can be run for a single asset.

• Go to “Process Depreciation” page.

• Select the “Asset No.” in the basis field.

• Specify the asset number for which the depreciation has to be processed.

•  Process the depreciation.

Process the balance assets

The assets that remain unprocessed can be picked for processing.

•  Go to “Process Depreciation” page.

•  Specify the balance of assets and process depreciation.

Confirm depreciation process

The entries generated during processing will be posted in the books of accounts on confirming. The assets that are processed can be picked up for confirmation.

•  Go to “Confirm Depreciation Process” page.

• Specify the process run number and retrieve the depreciation charge details.

•  Confirm the depreciation process.

The system updates the status of the process run number to “Confirmed”.

Delete process run

The process run number before confirmation can be deleted.

•  Go to “Confirm Depreciation Process” page.

•  Delete the process run.

The system deletes the process run number and the depreciation has to be processed from the beginning.

Automatic calculation of depreciation

All the financial periods till the period specified in “Financial Period Upto” field are automatically taken up for processing.

• Go to “Process Depreciation” page.

•  Specify the financial calendar information.

•  Retrieve the assets and run the depreciation processing.

Post depreciation to the cost center

The entries generated after running the depreciation processing can be automatically posted in the posting cost center.

•  Go to “Process Depreciation” page.

•  Specify the posting cost center.

Include suspension and revaluation during processing

The revaluation cost can be included while processing depreciation. The suspension period can also be set for a single asset or all the assets belonging to the asset class.

• Go to “Set Suspension Period” page.

• Specify the number identifying the suspension and the suspension start date and end date.

•  Set the period  for the selected asset.

•  Go to “Process Depreciation” page.

• Include the revaluation cost of an asset and the run the depreciation processing.

Delete suspension period

The suspension period that has already been set for an asset can be deleted.

• Go to “Set Suspension Period” page.

• Specify the suspension number and retrieve the asset details.

• Delete the suspension period.

The system deletes the suspension number.

Modify assets assigned to category

The assets can be assigned to a depreciation category for the first time or the assets that are already been assigned to the category can also be modified.

• Go to “Assign Assets” page.

• Retrieve the assets for which the category has been assigned.

• Modify the depreciation category assigned  to the asset.

Processing for whole financial period

The depreciation processing can be run for the whole financial year.

• Go to “Process Depreciation “ page.

• Specify the last financial period (of the Year) in the “Financial Period Upto” field.

•  Process the depreciation for the asset.

View process status

The processing status of asset can be viewed before processing the depreciation.

•  Go to “View Processing Status” page.

•  View the details.