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Guidelines When Depreciating Fixed Assets
Here are some guidelines on what to check when you want to make sure that all the Fixed Assets will be depreciated correctly:
These can be found on the Asset Record:
a. The Asset Status should either be New or Depreciating
b. Accounts Tab > Depreciation Account should be populated.
c. General Tab > Depreciation Active is set to True, Depreciation Start & End Dates and Last Depreciation Date are all populated. The period range between the dates should also be equal.
d, If the preference for Departments/Classes/Locations are set as mandatory, the Department/ Class/ Location should also be set on the Asset Record under the General Tab. The Department / Class / Location should also be active.
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