ADD/EDIT DEPRECIATION SCHEDULE


This selection enables you to enter the information essential for the depreciation process. General ledger account numbers must have been previously defined. Screen is shown condensed.

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ENTER THE ENTITY (???) SEARCH >

ENTITY

Enter the ID for the entity responsible for this depreciable item. The entity name will be automatically displayed.

ASSET #

Enter a unique asset number for each depreciable item. To assign the next available sequential number, enter a period (.) and press RETURN. To search for an existing asset number, enter ??? then enter data on which to search or ALL for all assets.

ITEM #

Enter the ID of the item you are depreciating. To search for an existing item number, enter ??? then enter data on which to search or ALL for all items.

DESC

The item description is automatically displayed. You may edit the description utilizing word processing mode.

MODEL #

Enter the model number, if applicable.

SERIAL #

Enter the serial number, if applicable.

VENDOR

The vendor for this item is automatically displayed if applicable. You may overwrite the displayed ID by entering the ID of the Vendor from whom the item was purchased. The vendor must be listed against the item in the parts file. To search for a vendor ID, enter ??? and then enter data on which to search.

PURCH DATE

Enter the date the item was purchased, or press the RETURN key to automatically display today’s date.

PURCHASE COST

The purchase cost is automatically displayed from the item record. You may overwrite the displayed cost.

$ DEPREC TO DATE

After your initial entry of the amount depreciated to date, this amount will be automatically updated.

DEPREC TO DATE

After your initial entry of the date associated with the amount depreciated to date, this date will be automatically updated.

DEPREC VALUE

Depreciated Value = Purchase Cost - Amount Depreciated To Date. This amount is automatically calculated.

SALVAGE VALUE

Enter the expected salvage value of the item after being depreciated.

I.T.C. ADJNET

Enter any Investment Tax Credit Adjustment.

DEPRECIABLE AMOUNT

Depreciable Amount = Depreciated Value - Salvage Value - ITC Adjustment. This amount is automatically calculated.

DEPREC METHOD

Enter the method being used. Example: MARCS, STRAIGHT LINE, etc. This field is for reference only and does not affect depreciation calculations.

REMAINING DEPREC LIFE

Enter the expected remaining life of the item in months.

ASSET ACCOUNT #

Enter the appropriate Asset general ledger account number. If unknown, enter ??? and then enter data on which to search.

EXP ACCOUNT #

Enter the appropriate Expense general ledger account number. If unknown, enter ??? and then enter data on which to search.

DEPREC ACCOUNT #

Enter the appropriate Depreciation general ledger account number. If unknown, enter ??? and then enter data on which to search.

ASSET TYPE

Enter CAPITAL or OTHER.

INS COV AMT

Enter any insurance coverage amount for this asset. The default shown equals the depreciated value amount.

LOCATION

Enter the ID that indicates the location of the item. Enter ??? to display a list of existing locations IDs with a class code equal to "WH".

DEPARTMENT

Enter the department ID. Enter ??? for a list of existing department IDs.

WITH

Enter the ID of the company that holds the service contract for this item, if applicable. If the ID is unknown, enter ??? and then enter data on which to search. The name of the company selection is displayed for reference.

AMOUNT

Enter the amount of the service contract.

FREQUENCY

Enter the frequency code.  W=Weekly, M=Monthly, Q=Quarterly, S=Semi-Annually, A=Annually

EXP DATE

Enter the expiration date of the service contract.

The following prompt will appear:

DO YOU WANT TO AUTOMATICALLY CALCULATED DEPRECIATION SCHEDULE (Y/N) >

If N is entered, you may begin entering the depreciation rates manually.

If Y is entered, the following screen will appear:

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ENTER PERCENTAGE OF DEPRECIABLE AMOUNT FOR THIS YEAR >

Enter the percentage the item will depreciate the first year. Continue entering the percentages for each year. NOTE - Percentages should equal 100% when finished.

EXAMPLES:

5-Year Percentage 3-Year Percentage Partial-year Percentage

15% = 1st Year 25% = 1st Year 12% = 1st Year

22% = 2nd Year 38% = 2nd Year 20% = 2nd Year

21% = 3rd Year 37% = 3rd Year 20% = 3rd Year

21% = 4th Year 20% = 4th Year

21% = 5th Year 28% = 5th Year

When percentages for each year have been entered, the rates will be automatically calculated. Press RETURN to return to the original entry screen, where the following information is automatically displayed and may be edited from the MODIFICATIONS prompt:

DATE

Depreciation information is displayed for each month as the item depreciates.

RATE %

The percentage of the rate at which the item is depreciating monthly is automatically displayed.

DEPRECIATION

The dollar amount depreciated each month is automatically displayed.

ACCUM DEPREC

The dollar amount of the accumulated depreciation is automatically displayed.

BOOK VALUE

The dollar amount of the book value of the item for the month shown is automatically calculated and displayed.

GL

If the depreciation line has been posted to general ledger, the flag will be Y. If not, the flag will be N.

OPTION LINE

You may edit the schedule if necessary from the option line. Press RETURN to redisplay the Modifications prompt.

The following screens are accessible from the fixed assets entry screen. These sub-screens are labeled "X Functions" which open windows for viewing related data (some sample data is shown).

From the MODIFICATIONS prompt, enter the X-Function corresponding with the Schedule. Example: X1 If unknown, enter XM to view a menu of X-Function selections.

X1 SCHEDULE

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You may edit the schedule from the option line if required.