Confirm Usage and Viewing Depreciation - A summary of the activity
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This activity enables the Finance team to record / confirm latest usage for usage-based assets just prior to depreciation processing. (Since for usage-based assets, it is mandatory that usage be recorded before depreciation computation at the end of a financial period.) This enhances the precision of financial functions, such as depreciation and asset value processing.
Typically, the Technical team maintains the usage information using the Technical Records component. However, this activity provides an advantage to the Finance team to record asset usage avoiding traversal to another component at critical times.
Alternately, users can choose to only view usage / depreciation.
The financial period for the computation of depreciation is set to a ‘month’ in the chosen financial year.
Getting familiar with the pages inside
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Confirm Usage and View Depreciation |
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Process Depreciation |
Processing depreciation on the fixed asset subsequent to update of depreciated usage |
What you can do in this activity
Record and confirm asset usage
View usage and depreciation
The depreciation rule that has already been set for an asset can be changed.
Go to “Setup for Change Depreciation” page.
Specify the change setup number and its description.
Specify the new depreciation rule number.
Set the depreciation rule.
The new depreciation rule that is applied on an asset can be processed.
Go to “Change Depreciation” page.
Specify the process date and the process depreciation.
The system generates a process run number based on the numbering type. The system updates the status of the process run to “Processing”.
Process depreciation in batches
If the total number of assets or asset tags exceeds the limit set in the “ OU Process Parameter” business component, the depreciation can be processed in batches.
Go to “Change Depreciation” page.
Batch process the depreciation.
The process run that is in “Processed” status can be confirmed. The accounting entries will be posted in the books of accounts after confirmation.
Go to “Confirm Change Depreciation Process” page.
Specify the process run number and retrieve the details for confirmation.
The system updates the status of the process run to “Confirmed”.
The process run before confirmation can be deleted.
Go to “Confirm Change Depreciation Process” page.
Specify the process run number and retrieve the details for deletion.
The system updates the status of the asset / tag to “Unprocessed”.
The change or the difference in the depreciation charged after applying new rule can be viewed through this activity.
Go to “View Change Depreciation” page.
Specify the process run number and the number identifying the change setup to view the corresponding details.
The difference in the depreciation charged during suspension period after adoption of new depreciation rule can also be viewed.
Go to “View Suspension by Period” page.
View the suspension depreciation.
The change in depreciation charged on the revalued cost of an asset can be viewed in this activity.
Go to “View Revaluation Change Depreciation” page.
Specify the process run number and the number identifying the change setup to view the depreciation charge details.