Use this alternative menu option to edit, enter additional information for, or view data for other books from the fields in the Other Books Info subtask of an established Asset Master record. This data entry option is available only for existing Asset Master records.
With this menu option, users do not automatically have access to data fields in other Asset Master subtasks; such access rights must be granted by the system administrator for each subtask on a screen-by-screen basis.
If screen rights are set up so the user can access the Maintain Asset Master Info screen, then that screen and ALL its subtasks are automatically accessible to the user.
If screen rights are NOT set up for the user to access the Maintain Asset Master Info screen, the system administrator can alternately grant or deny rights using the direct menu option on a screen-by-screen basis. In this manner, each user can access only the permissible subtasks in an Asset Master record.
When you first bring up this screen, the number of asset records in your database controls the system rules for populating the columns in the table window, as follows:
If you have 1,000 or fewer asset records, this table window will be populated with data for all your asset records. You can then use the Subquery button on the toolbar to select a specific subset of records, if desired.
If you have more than 1,000 asset records, the Subquery screen will appear. You will then need to select the records you want to access using the Subquery screen.
Although the data displays in columnar form in the table window in this screen, data entry functionality and data rules for each column are identical to those for each corresponding field in the Other Books Info subtask of the Maintain Asset Master Info screen, regardless of which entry screen methodology you establish for each user.
For optional books 2-10, information about depreciation parameters and calculations displays in this screen. For existing property records, you can optionally add historical depreciation data in this screen if you use additional books.
Optional books 2-10 are initialized and named in the Books Setup group box of the Fixed Assets Settings screen. Each optional book can be set up and used independently, and can be used for purposes such as tax depreciation or to review the results of a change in depreciation method.
There is no interface with the General Ledger for Books 2-10 and no postings can occur. The results of depreciation calculations display in this screen for all optional books used, and reports are available to print data by book in a number of different formats. Book 1, which is designated by the system as the "G/L Book," is the ONLY book that interfaces with the General Ledger by means of depreciation and disposal posting entries.
You cannot use this screen to add new asset records. You can enter additional optional data, change existing data, or delete existing data within the system rules already established for Asset Master record that was originally added using the Maintain Asset Master Info screen and its subtasks.
In this screen, unlike maintenance table windows throughout Costpoint, the line functions in the menu bar (New, Insert, Repeat, Delete, and Undelete) are disabled.
Information about depreciation displays in this screen once depreciation for a record has begun. For existing property records, you may need to add historical depreciation data in this screen.
Data entry for all the columns in this screen is optional. Although not system-required to save data in this screen, if an asset is depreciable (the Depr Status is "D" (Depreciable)), you must assign a depreciation method in the (Your Book Label) Depr Method Code and enter data in the (Your Book Label) Depr Start Date column to compute depreciation for any optional book.
For additional information on depreciation calculations and the role of data columns in this screen, please refer to the specific documentation for the applicable columns in this screen and Special Topic FA-3, "Calculate Depreciation."
You cannot use this screen to add new asset records. You can enter additional optional data, change existing data, or delete existing data within the system rules already established for Asset Master record that was originally added using the Maintain Asset Master Info screen and its subtasks.
You should enter or edit data in this screen before you calculate depreciation, as applicable. Although you can change information in this screen at any time, use caution in the timing of these edits, which can impact the calculation of depreciation as well as the types of records included in system reports.
This non-editable column displays the asset number assigned to this record when the asset was saved in the Maintain Asset Master Info screen.
This non-editable column displays the item number assigned to this record when the asset was saved in the Maintain Asset Master Info screen.
This non-editable column displays the optional short description entered for this record, if applicable.
The Short Desc data may have been entered/edited in the Maintain Asset Master Info screen or in the Maintain Asset Desc Info screen. Any edits to this column must be made in the Maintain Asset Master Info main screen or in the Maintain Asset Desc Info screen.
This non-editable column displays the system-required record status assigned to this record when the asset was saved in the Maintain Asset Master Info main screen. The options available for this display-only column are "A" (Active), "I" (Inactive), or "D" (Disposal). The system default is "A" (Active).
A record must be "Active" to be eligible for depreciation calculations. If you specify that a record is "Inactive," the system will skip over this record for depreciation calculations and for reports that do not specify the inclusion of inactive records.
This column displays the status of this checkbox for this record for this book, if applicable, when the asset was saved in the Maintain Asset Master Info screen. The value displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or in this screen.
The system default for this checkbox is checked. You should accept the system default if you want this record to be included in system calculations of depreciation. If you select this checkbox, the system will compute depreciation each period for eligible assets and will display the results in the Book 2 (or your label) Current Pd Depreciation column in this screen. You can always overwrite the automatic system calculation of depreciation. If this checkbox is selected, the system will also re-set the Book 2 (or your label) Current Pd Depreciation column back to zero during the Fixed Assets period close process.
Uncheck this checkbox if you want to disable the automatic system calculation of depreciation. In this circumstance, you will need to manually enter the amount of depreciation in the Book 2 (or your label) Current Pd Depreciation column for this record.
In general, if you need to make a one-time adjustment to current depreciation expense, you should manually override the system calculation in the Book 2 (or your label) Current Pd Depreciation column rather than change the default for this checkbox. If, however, you want to use the manually entered depreciation amount as a recurring override to system calculations, you should uncheck this box and enter the override amount in the Book 2 (or your label) Current Pd Depreciation column.
This column displays the optional depreciation method code assigned to this record for this book, if applicable, when the asset was saved in the Maintain Asset Master Info screen. Data displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or in this screen.
You can edit this optional column or enter up to six alphanumeric characters to specify a depreciation method code for this record. Lookup is also available. Valid depreciation method codes are set up during initialization in the Depr Methods - Basic Setup screen.
Because depreciation calculations use the depreciation method code from this column, use caution if you change the depreciation method code for records once they have begun depreciating in the system.
For both new and existing asset records, you can edit the depreciation method code that displays in this field. Because depreciation calculations use the depreciation method code from this field, use caution if you change the depreciation method code for property records once they have begun depreciating in the system.
This column displays the optional useful life assigned to this record for this book, if applicable, when the asset was saved in the Maintain Asset Master Info screen. Data displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or in this screen.
You can edit this optional column or enter up to four numeric characters to indicate the useful life for this record. There is no system validation for the data in this column.
The value in this column is for data purposes only and is not used in system calculations. (When the system calculates depreciation, the depreciation year and percentage for that year is derived from the depreciation method assigned to the record. For example, if you enter a useful life of five years in this column but your depreciation method uses only three years, the system will not use the value in this column for calculations, but will instead use percentages for three years only, as specified by the depreciation method.)
This column displays the optional G/L book depreciation start date assigned to this record for this book, if applicable, when the asset was saved in the Maintain Asset Master Info screen. Data displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or in this screen.
For a new asset record, enter or edit the depreciation start date for this record in date format in this column. Even though data entry in this column is not required, this column is the most important date for depreciable assets because the system uses this date in the computation of depreciation. Depreciation calculations will not take place if blanks display in this column, or if this date is later than the end of the current accounting period. (Specify the Fixed Assets "current" accounting period in the Posting Settings screen.)
If you anticipate a depreciation start date delay due to installation or calibration requirements, for example, you can enter a future date in this column. In this circumstance, depreciation calculations will not begin until the future date coincides with your current accounting period. The date in this column must be on or before the end of the current accounting period for depreciation calculations to take place.
For both new and existing asset records you can enter or edit in this column. You should enter the historical date that depreciation began for this record and NOT the date that you began depreciating this record using Costpoint Fixed Assets. Because system calculations use this date to determine whether depreciation computations should take place for each record, use extreme caution if you change the depreciation start date for property records once they have begun depreciating in the system.
The relationship between this data in this column and the values in the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns is critical to the accurate calculation of depreciation for new records (only for records in which the Depr Basis is "Y" (Years)).
You can use the Verify/Update Depr Computation Data utility to assist you in verifying the relationship of the Book 2 (or your label) Depr Start Date column to the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns.
Using the value in the Book 2 (or your label) Depr Start Date column, the system prints a report by asset/item number, by book, that includes a side-by-side comparison of both the current values displayed in the Asset Master record AND the values that the system would have computed for the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns.
Although you can print this report for all selected records, you can also print the report for exceptions only, which makes discrepancies easier to identify. After the report has printed, you can activate the option in this utility that applies the system-computed values to your asset records. This process updates the existing data in the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns by replacing your data and writing the system-computed values to these columns.
You should run this utility to verify (and optionally update) your data after you initialize your historical records and reconcile the detail Asset Account and Accumulated Depreciation Account totals with your General Ledger account totals before you compute depreciation for the first time.
After initialization, you may want to run this utility on a regular basis each period as part of your company's standard procedures, to confirm that your period additions have been initialized correctly.
For additional information about this feature, please refer to the specific documentation on the Verify/Update Depr Computation Data utility.
During initialization, to ensure consistency of data, you may want to develop some internal rules on the use of this column.
When entering data for new records or for historical records during the initialization process, there are no system restrictions regarding the appropriateness and/or accuracy of the start date. Because of the important relationship between the start date and the data in the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns, however, in most cases you should enter the date at which depreciation originally began for this record.
There are two ways to populate the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns for NEW records:
You can manually enter this data at the same time you enter data for other Asset Master columns. For this method, you need to be very careful that your entries are correct and "in sync" with the Book 2 (or your label) Depr Start Date column.
You can leave these columns blank when you initialize the Asset Master record. When you compute depreciation for the first time, the system will compute and insert the correct values for these columns, based on the data in the Book 2 (or your label) Depr Start Date column.
Because manually entered data in the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns is especially prone to user error and misinterpretation, you can use the Verify/Update Depr Computation Data screen to assist you in verifying the relationship of these two data columns with the Book 2 (or your label) Depr Start Date column. You can access the Verify/Update Depr Computation Data screen in the Utilities menu. You can run it for any range of asset/item numbers.
After printing the report, you can activate the option in this utility that applies the system-computed values to your asset records. This process updates the existing data in the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns by replacing the existing data with the system-computed values. If you do not apply the system-computed values to your data, you may need to manually adjust some values in the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns (or, in some cases, the Book 2 (or your label) Depr Start Date column) to ensure the accuracy of depreciation calculations.
For additional information about this feature, please refer to the documentation for the Verify/Update Depr Computation Data utility.
This column displays the optional in-service date assigned to this record for this book, if applicable, when the asset was saved in the Maintain Asset Master Info screen. Data displayed in the Book 2 (or your label) In-Srvc Date column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or in the Maintain Asset Other Books Info screen.
You can enter the in-service date for this record in date format in this optional field. The value in this field is for data purposes only and is not used in system calculations. (When the system calculates depreciation, the system checks only the date from the Book 2 (or your label) Depr Start Date field). The date in this field can be an historical, current, or future date.
For both new and existing asset records, you can edit the value that displays in this field.
This column displays the current depreciation year assigned to this book for this record, as applicable, when the asset was saved in the Maintain Asset Master Info screen (or when depreciation was first computed for the record). Data displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or in this screen.
This column, along with data in the Book 2 (or your label) Days/Pds Remaining and Book 2 (or your label) Depr Start Date column, plays an integral role in the system calculation of depreciation. The value in this column signifies which depreciation year of the asset's useful life is current. As a result of this data, the system can use the appropriate percentage for the current year of life from the depreciation method linked with this record. (Years of useful life and percentages for each year are set up in the Depr Methods - Basic Setup screen.)
For a new asset record, blanks normally display in this column as a default. You can leave this column blank because the system will insert "1" in this column for a new blank record the first time that depreciation is calculated for this asset. Alternately, you can manually enter the depreciation year (which should be "1" for a new record). If you enter a value in this column, however, you must also enter a value in the Book 2 (or your label) Days/Pds Remaining column, or you will not be able to save the asset record.
This column must be blank for the system to populate it with a "1" the first time that depreciation is calculated for this record. If you have entered any number in this column, the system will not replace your entry during depreciation calculations. Although this column is not required to save a record, if you have overwritten the system-populated value in this column with blanks, system calculations cannot take place. The reason for this is that the system cannot find the appropriate percentage to use from the Depr Methods - Basic Setup screen if the current depreciation year is not specified.
During the initialization of your historical records, you will need to enter the correct current depreciation year for each asset. If, for example, you have an asset for which you have defined a depreciation method with a useful life of five years (the Depr Methods - Basic Setup screen), you should enter the current year of that life (for example, "1," "2," "3," "4," or "5"). In this way, the proper depreciation percentage for the current depreciation year can be used during system calculations.
For both new and historical records, once this column is initialized, the system increases the value in this column when required during the appropriate Fixed Assets period close process. The current year increments during the closing process if there are additional years of useful life remaining for the record, and the Book 2 (or your label) Days/Pds Remaining column displays a "1" (for assets using period-based depreciation) or if the number of days remaining is less than or equal to the number of days in the Fixed Assets period being closed (for assets using a Date of Purchase basis with depreciation calculated based on the number of days owned). At the same time, the value in the Book 2 (or your label) Days/Pds Remaining column will also change appropriately.
For both new and existing asset records, you can edit data that displays in this column, if needed. Because system calculations use this data to determine whether depreciation computations should take place for each record, and the manner in which they should take place, use extreme caution if you change the current depreciation year for property records once they have begun depreciating in the system.
Because manually entered data in the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns is especially prone to user error and misinterpretation, you can use the Verify/Update Depr Computation Data screen to assist you in verifying the relationship of these two data columns with the Book 2 (or your label) Depr Start Date column. You can access the Verify/Update Depr Computation Data screen in the Utilities menu. You can run it for any range of asset/item numbers.
The utility produces a report, based on the depreciation start date, which shows a side-by-side comparison of both the current values displayed in the Asset Master and the system-computed values for the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns. You can print the report for all selected records or for exceptions only, which makes discrepancies easier to identify.
After printing the report, you can activate the option in this utility that applies the system-computed values to your asset records. This process updates the existing data in the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns by replacing the existing data with the system-computed values. If you do not apply the system-computed values to your data, you may need to manually adjust some values in the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Days/Pds Remaining columns (or, in some cases, the Book 2 (or your label) Depr Start Date column) to ensure the accuracy of depreciation calculations.
Because the Update portion of this utility will overwrite your existing data with system-generated data, you should always carefully review and agree with the reported results on a record-by-record basis before performing the Update process. The Update process is similar to posting routines in that the report must first be printed before you can proceed with the Update process. Never run the Update process as a matter of routine unless you are in agreement with the system data changes that will take place in each Asset Master record.
Please refer to documentation for the Verify/Update Depr Computation Data screen.
This column displays the optional number of days/periods remaining assigned to this record for this book, if applicable, when the asset was saved in the Maintain Asset Master Info screen. Data displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or in this screen.
This column, along with the Book 2 (or your label) Curr Depr Yr and Book 2 (or your label) Start Date columns, plays an integral role in the system calculation of depreciation. The value in this column indicates the number of days or periods remaining in the current depreciation year of the asset's useful life. (Years of useful life and percentages for each year are set up in the Depr Methods - Basic Setup screen.)
For a new asset record, blanks display in this column as a default. You can leave this column blank, if desired because the system will insert the correct value in this column for a new blank record the first time that depreciation is calculated for this asset. Alternately, you can manually enter the days or periods remaining in this column, if desired. If you enter a value in this column, however, you must also enter a value in the Book 2 (or your label) Curr Depr Yr column, or you will not be able to save the asset record
The value in this column will depend on the Date of Purchase or Fiscal Year basis assigned to the depreciation method for this asset.
If you have linked a Date of Purchase basis for depreciation method with this record, the value in this column should reflect the number of days or periods remaining in the current purchase year, depending on the option you selected in the System-Wide Configuration for DP Basis Depr Methods group box in the Fixed Assets Settings screen.
If you have linked a Fiscal Year basis for depreciation method with this record, the value in this column should reflect the number of periods remaining in the current fiscal year. The number of periods remaining cannot be greater than 18.
This column must be blank for the system to populate it the first time that depreciation is calculated for this record. If you have entered any number in this column, the system will not replace your entry during depreciation calculations. Although this column is not required, system calculations cannot take place if you have overwritten the system-populated value in this column with blanks. The reason for this is that the system cannot depreciate correctly for the current period if the Book 2 (or your label) Days/Pds Remaining column is not specified.
During the initialization of your historical records, you will need to enter the correct days/periods remaining for each asset, as applicable.
For both new and historical records, once this column is initialized, the system changes this value, as required, during the Fixed Assets period close process. The current year increments during the closing process if there are additional years of useful life remaining for the record, and the Book 2 (or your label) Days/Pds Remaining column displays a "1" (for assets using period-based depreciation) or if the number of days remaining is less than or equal to the number of days in the Fixed Assets period being closed (for assets using a Date of Purchase basis with depreciation calculated based on the number of days owned). At the same time, when the value in the current year increases, the value in the Book 2 (or your label) Days/Pds Remaining column will also change and appropriately for the basis used (DP or FY).
For both new and existing asset records, you can edit data that displays in this column, if needed. Because system calculations use this data to determine if and the manner in which depreciation computations should take place for each record, however, use extreme caution if you change data in this column for property records once they have begun depreciating in the system.
This column displays the optional total cost amount entered for this record for this book, if applicable. The value in this column may have been entered/edited in the Cost Info subtask of the Maintain Asset Master Info screen or in this screen.
You can enter or edit the total price amount in this optional column. Note that cost changes made to any optional book in this screen display in the appropriate columns in the Maintain Asset Cost Info screen. Conversely, cost changes made to any optional book in the Maintain Asset Cost Info screen display in the columns in this screen.
There is no system requirement that the cost for any optional books used be identical to the cost value used for the G/L Book. You can always assign a different cost basis for each optional book (for purposes of stepped-up depreciation basis, and so on). Because system depreciation calculations use this data, however, use caution if you change the cost for a record once it has begun depreciating in the system.
When you first add and save an Asset Master record, the G/L Book Total Cost value from the Cost Info subtask of the Maintain Asset Master screen (or from the Maintain Asset Cost Info screen) displays as the default total cost for all optional books.
If you add, edit, or delete the G/L Book Total Cost value from the Cost Info subtask of the Maintain Asset Master screen (or from Maintain Asset Cost Info screen), the system will display the following message:
"Do you wish to update the Total Cost of the Other Book(s) whose cost matched the original cost?"
If select the Yes pushbutton, the G/L Book Total Cost value from this column will be copied to and display as the cost for all applicable optional books. The purpose of this default feature is to save you some data entry because, for the majority of users, the G/L Book cost amount is the same for the optional books.
This column displays the optional salvage percent assigned to this record, as applicable, when the asset was saved in the Maintain Asset Master Info screen. Data displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or in this screen.
For a new asset record, if applicable, enter the salvage value percentage rate to be used in the calculation of salvage and depreciable value in this optional column. You can enter up to three integers and four decimal places.
If you enter a salvage value percentage in this column, note that the system computes and displays the equivalent salvage value in the Book 2 (or your label) Salvage Value column. Alternately, if you do not enter a percentage in this column but instead enter a salvage value amount directly in the Book 2 (or your label) Salvage Value column, the system will compute and display the equivalent salvage value percentage in this column.
The Book 2 (or your label) Salvage Percent column the Book 2 (or your label) Salvage Value columns are reciprocal in that the entry in one column calculates and displays the data in the other column. Data from the Book 2 (or your label) Salvage Value column is subtracted from the Book 2 (or your label) Total Cost column and the result is displayed in the Book 2 (or your label) Amt to Depreciate column, which in turn affects the amount of depreciation calculated by the system. In a simplified example, if an asset's cost is $10,000 and its salvage value is 5%, then the amount to depreciate is $9,500 and the system will not permit depreciation in excess of $9,500 for this asset. Do not enter a value in the Book 2 (or your label) Salvage Percent or Book 2 (or your label) G/L Book Salvage Value columns for salvage unless this is the point at which you want the system to stop depreciation.
For both new and existing asset records, you can edit the value that displays in this column. Because system calculations use this data to determine the manner in which depreciation computations should take place for each record (as well as the amount to depreciate), use caution if you change this column for property records once they have begun depreciating in the system.
Refer to the these examples, each of which illustrates a different way in which to handle salvage value relative to the computation of depreciation based on years:
Example 1:
This example illustrates the setup for the condition in which salvage value is subtracted before depreciation calculations. This is the most common methodology for computing depreciation when there is salvage value assigned to an asset.
Asset Master Record:
|
Total Cost = |
$ 10,000 |
|
Salvage Percent = |
10 % |
|
Salvage Value = |
$1,000 |
|
Depr Method Code = |
SL5 |
|
Amt to Depreciate = |
$ 9,000 |
Depr Method: SL5 (Straight-Line Method over 5 years)
Total % to Depreciate = 100%
Subtract Salvage Value Before Calculation = Checked for depreciation method "SL5."
|
Year |
% |
|
Amt to Depreciate |
|
Annual Depreciation |
|
1 |
20% |
x |
9,000 |
= |
1,800 |
|
2 |
20% |
x |
9,000 |
= |
1,800 |
|
3 |
20% |
x |
9,000 |
= |
1,800 |
|
4 |
20% |
x |
9,000 |
= |
1,800 |
|
5 |
20% |
x |
9,000 |
= |
1,800 |
|
|
|
|
|
|
9,000 |
For this example, the system subtracted the salvage value from the asset's total cost to determine the amount to depreciate (10,000 - 1,000 = 9,000). Note that the residual amount is spread uniformly across all years of useful life ($200 per year for 5 years).
The system multiplies the amount to depreciate by the depreciation percentage for the appropriate year of life to determine annual depreciation.
Example 2:
This example illustrates the setup for the condition in which salvage value is not subtracted prior to depreciation calculations.
Asset Master Record:
|
Total Cost = |
$ 10,000 |
|
Salvage Percent = |
10 % |
|
Salvage Value = |
$1,000 |
|
Depr Method Code = |
SL5 |
|
Amt to Depreciate = |
$ 10,000 |
Depr Method: SL5 (Straight-Line Method over 5 years)
Total % to Depreciate = 100%
Subtract Salvage Value Before Calculation = Unchecked for depreciation method "SL5."
|
Year |
% |
|
Amt to Depreciate |
|
Annual Depreciation |
|
1 |
20% |
x |
10,000 |
= |
2,000 |
|
2 |
20% |
x |
10,000 |
= |
2,000 |
|
3 |
20% |
x |
10,000 |
= |
2,000 |
|
4 |
20% |
x |
10,000 |
= |
2,000 |
|
5 |
20% |
x |
10,000 |
= |
2,000 |
|
|
|
|
|
|
10,000 |
For this example, the system ignored the salvage value from the asset's total cost in determining the amount to depreciate (10,000 - 0 = 10,000). The system multiplies the amount to depreciate by the depreciation percentage for the appropriate year of life to determine annual depreciation.
Example 3:
This example illustrates the only method available that will recognize the residual (salvage) amount in the last year of useful life. Note that only 90% of the asset was set up for depreciation when the depreciation method was defined.
Asset Master Record:
|
Total Cost = |
$ 10,000 |
|
Salvage Percent = |
10 % |
|
Salvage Value = |
$1,000 |
|
Depr Method Code = |
SL5 |
|
Amt to Depreciate = |
$ 9,000 |
Depr Method: SL5 (Straight-Line Method over 5 years)
Total % to Depreciate = 90%
Subtract Salvage Value Before Calculation = Unchecked for depreciation method "SL5."
|
Year |
% |
|
Amt to Depreciate |
|
Annual Depreciation |
|
1 |
20% |
x |
10,000 |
= |
2,000 |
|
2 |
20% |
x |
10,000 |
= |
2,000 |
|
3 |
20% |
x |
10,000 |
= |
2,000 |
|
4 |
20% |
x |
10,000 |
= |
2,000 |
|
5 |
10% |
x |
10,000 |
= |
1,000 |
|
|
|
|
|
|
9,000 |
This column displays the optional salvage value amount assigned to this record for this book, as applicable, when the asset was saved in the Maintain Asset Master Info screen. Data displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or in this screen.
Salvage value represents the expectation of value upon the retirement of the asset. It is computed as the salvage value percentage multiplied by the asset's total cost.
For a new asset record, as applicable, enter the salvage value to be used in the calculation of depreciation in this optional column. You can enter up to 12 integers and two decimal places (999,999,999,999.99) in this column.
If you enter a salvage value in this column, note that the system computes and displays the equivalent salvage value percentage in the Book 2 (or your label) Salvage Percent column. Alternately, if you do not enter a value in this column but instead enter a salvage value percentage directly in the Book 2 (or your label) Salvage Percent column, the system will compute and display the equivalent salvage value in this column.
The Book 2 (or your label) Salvage Value column and the Book 2 (or your label) Salvage Percent columns are reciprocal in that the entry in one column calculates and displays the data in the other column. Salvage value is subtracted from the value in the Book 2 (or your label) Total Cost column, and the result displays in the Book 2 (or your label) Amt to Depreciate column, which in turn affects the amount of depreciation calculated by the system. In a simplified example, if an asset's cost is $10,000 and its salvage value is 5%, then the amount to depreciate is $9,500 and the system will not permit depreciation in excess of $9,500 for this asset. Do not enter a value in the Book 2 (or your label) Salvage Value or Book 2 (or your label) Salvage Percent columns for salvage unless this is the point at which you want the system to stop depreciation.
For both new and existing asset records, you can edit the value that displays in this column. Because system calculations use this data to determine the manner in which depreciation computations should take place for each record (as well as the amount to depreciate), use caution if you change this column for property records once they have begun depreciating in the system. For more information on salvage calculations, please refer to the examples of salvage value calculations illustrated in the Book 2 (or your label) Salvage Percent section above.
You cannot edit this column or make entries in it.
The system computes and displays an amount equal to the total cost of the asset less any salvage value from the Book 2 (or your label) Salvage Value field. Be certain to confirm the data in the Book 2 (or your label) Salvage Percent and Book 2 (or your label) Salvage Value fields because they directly influence the system calculation of the Book 2 (or your label) Amt to Depreciate field.
As long as the Book 2 (or your label) Auto Calc checkbox is selected for this book and you have made no manual overrides to system-calculated data, the system cannot depreciate an amount greater than the amount that displays in this field.
This column, along with other depreciation data, plays an integral role in the system calculation of depreciation for methods using the Fiscal Year basis. (You must select a Date of Purchase or Fiscal Year basis in the Depr Methods - Basic Setup screen when you set up each depreciation method.)
This column displays the optional Book 2 (or your label) fiscal year to date depreciation amount entered for this record, as applicable, when the asset was saved in the Maintain Asset Master Info screen. Data displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or directly in this screen.
For a new asset record, no data should display in this column because there has been no historical fiscal year activity. You should leave this column blank for a new record because the system will increment (or possibly decrement) the value in this column by the amount of depreciation posted cumulatively for the period each time the current Fixed Assets period is closed. The value in this column should always be equal to the posted depreciation expense for the current fiscal year, exclusive of the value in the Book 2 (or your label) Current Pd Depreciation column.
The value in this column will be different from the value in the Book 2 (or your label) Amt Taken Purchase YTD column except when the date of purchase coincides with the start of your fiscal year. The Book 2 (or your label) Amt Taken Purchase YTD column displays purchase year data, while the Book 2 (or your label) FYTD Depreciation column displays fiscal year data.
For both new and historical records that are being initialized, the system will increase or decrease the value in this column by the amount of the total depreciation posted cumulatively for the period when the Fixed Assets current period is closed. Data from this column is added to the data from the Book 2 (or your label) Prior FY Depreciation and Book 2 (or your label) Current Pd Depreciation columns to derive the total calculated value displayed in the Book 2 (or your label) Accum Depreciation column.
The value in this column will be updated by the system when you perform the Fixed Assets period close process on the last period in your fiscal year. The value in the Book 2 (or your label) FYTD Depreciation column will be added to the value in the Book 2 (or your label) Prior FY Depreciation column and the value in the Book 2 (or your label) FYTD Depreciation column will be set back to zero.
For both new and existing asset records you can edit data that displays in this column. Because system calculations use this data to determine if and the manner in which depreciation computations should take place for each record, however, use caution if you change data in this column for property records once they have begun depreciating in the system.
This column, along with other depreciation data, plays an integral role in the system calculation of depreciation for methods using the Fiscal Year basis. (You must select a Date of Purchase or Fiscal Year basis in the Depr Methods - Basic Setup screen when you set up each depreciation method.)
This column displays the optional Book 2 (or your label) cumulative depreciation amount for all prior fiscal years entered for this record, as applicable, when the asset was saved in the Maintain Asset Master Info screen. The value in this column should reflect cumulatively the total depreciation expense for all past fiscal years, and should not include the current fiscal year amount. Data displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or directly in this screen.
For a new asset record, no data should display in this column because there has been no prior fiscal year activity. The value in this column should always be equal to the cumulative depreciation expense for all prior fiscal years, exclusive of the value in the Book 2 (or your label) Current Pd Depreciation column. This column will be updated when you perform the Fixed Assets period close process on the last period in your fiscal year. The value in the Book 2 (or your label) FYTD Depreciation column will be added to the value in the Book 2 (or your label) Prior FY Depreciation column, and the Book 2 (or your label) FYTD Depreciation column will be set back to zero.
For both new and historical records, the system adds data from this column to the data from the Book 2 (or your label) FYTD Depreciation and Book 2 (or your label) Current Pd Depreciation columns to derive the Book 2 (or your label) Accum Depreciation column calculated total.
For both new and existing asset records, you can edit data that displays in this column. Because system calculations use this data to determine whether depreciation computations should take place for each record, and the manner in which they should take place, use caution if you change the value in this column for property records once they have begun depreciating in the system.
This column, along with data in the Book 2 (or your label) Curr Depr Yr and the Book 2 (or your label) Days/Pds Remaining columns, plays an integral role in the system calculation of depreciation for both Date of Purchase or Fiscal Year basis methods.
You should leave this column blank for a new asset record, unless you want to overwrite the system calculation of annual depreciation and you uncheck the Book 2 (or your label) Auto Calc checkbox.
This column will be populated by the system when you calculate depreciation for this record, if the Book 2 (or your label) Auto Calc checkbox has been selected and the date in the Book 2 (or your label) Depr Start Date column is not a future date (later than the end of the current period).
Manual entries are always permitted in this column, regardless of the status of the Book 2 (or your label) Auto Calc checkbox and the date in the Book 2 (or your label) Depr Start Date column. Enter manual overwrites with caution, however. The timing of any manual entries to this column are especially important; if you have selected the Book 2 (or your label) Auto Calc checkbox, any manual edits to the Book 2 (or your label) Annual Depreciation column will be re-populated and overwritten by the system when you compute depreciation.
For both new and historical records, data from this column is used by the system during system depreciation calculations. You can perform depreciation calculations multiple times within the same accounting period. If you have made no manual corrections to critical columns (such as asset cost, annual depreciation, current depreciation year, periods remaining, and so on), there is no danger that the system will calculate a different annual depreciation value for the same asset in the same accounting period.
Annual depreciation is computed as: total cost (or cost minus salvage value) times the depreciation percentage (from the depreciation method assigned to the asset) for the year specified in the Book 2 (or your label) Curr Depr Yr column.
The system does not re-set the value in this column to zero during the period close process.
For both new and existing asset records, you can edit data that displays in this column. Because system calculations use this data for depreciation calculations, however, use caution if you change this column for an asset record once it has begun depreciating in the system.
You should leave this column blank for a new asset record, unless you want to overwrite the system calculation of annual depreciation and you uncheck the Book 2 (or your label) Auto Calc checkbox.
For a new asset record, blanks normally display in this column. If you have unchecked the Book 2 (or your label) Auto Calc checkbox and you manually entered a value in this column last period, this column should still display the manually entered value. You should leave this column blank for a new record unless you want to overwrite the system calculation of depreciation for the period.
This column will be populated by the system when you calculate depreciation for this record, if the Book 2 (or your label) Auto Calc checkbox has been selected and the date in the Book 2 (or your label) Depr Start Date column is not a future date (later than the end of the current period). (The "current" Fixed Assets period is specified in the Posting Settings screen.) Manual entries and edits are always permitted in this column, regardless of the status of the Book 2 (or your label) Auto Calc checkbox and the date in the Book 2 (or your label) Depr Start Date column. Manual entries and overwrites should be entered with caution, however.
For both new and historical records, data from this column is added by the system to the data from the Book 2 (or your label) FYTD Depreciation and Book 2 (or your label) Prior FY Depreciation columns to derive the Book 2 (or your label) Accum Depreciation column calculated total. When you close the current accounting period, the value in this column will be set back to zero unless you have unchecked the Book 2 (or your label) Auto Calc checkbox.
You can perform depreciation calculations multiple times within the same Fixed Assets period. If you have made no manual corrections to critical columns (such as asset cost, annual depreciation, current depreciation year, periods remaining, and so on), there will be no difference in the depreciation amount recomputed.
Current period depreciation expense is computed as a result of the Date of Purchase or Fiscal Year basis assigned to each depreciation method (established in Depr Method Codes - Basic Setup screen).
Unlike the G/L Book, in which depreciation can be computed based on Years, Units of Usage, or Lease Pds, depreciation for all optional books used can be computed based only on Years.
The basic premise for depreciation calculations in which the "catch-up" amount is to be spread among remaining periods is as follows:
If you have linked a Date of Purchase basis for depreciation method with the asset, this column will display the annual depreciation expense less the amount taken this purchase year divided by the number of periods remaining in the calendar year.
If you have linked a Fiscal Year basis for depreciation method with the asset, this column will display the annual depreciation expense less the FYTD amount divided by the number of periods remaining in the fiscal year.
In the following simplified example, consider the basic differences in current period depreciation calculations for a $9,000 asset, useful life of five years, no salvage value, using straight-line depreciation, for both the FY and DP basis. For this example, the current fiscal year is CY 2002 the current Fixed Assets accounting period is 10, the number of accounting periods in the fiscal year is 12, and the start date is 10-01-02.
|
|
DP (Date-Purchased) |
FY (Fiscal Year) |
|
Asset Cost |
$ 9,000 |
$ 9,000 |
|
Annual Depreciation |
$ 1,800 |
$ 1,800 |
|
Current Pd Depreciation |
$ 150 |
$ 600 |
When you use the Date of Purchase basis for depreciation, the system divides the annual depreciation expense of $1,800 by the number of accounting periods remaining in the purchase year (12). One period of expense is charged for the current period, irrespective of the fiscal year. The depreciation year begins at the date in the Depr Start Date column (10-01-2002).
When you use the Fiscal Year basis for depreciation, the annual depreciation expense of $1,800 is divided by the number of accounting periods remaining in the fiscal year. In the example above, there are only three accounting periods remaining in the fiscal year over which to spread the annual depreciation cost of $1,800.
For both new and existing asset records, you can edit data that displays in this field, if needed, but make all edits with caution.
The system totals the values from the Book 2 (or your label) FYTD Depreciation, Book 2 (or your label) Prior FY Depreciation, and Book 2 (or your label) Current Pd Depreciation columns and displays the result in this non-editable column.
The system subtracts the value in the Book 2 (or your label) Accum Depreciation field from the value in the Book 2 (or your label) Amt to Depreciate field and displays the results in this non-editable field.
This column, along with data in the Book 2 (or your label) Curr Depr Yr and the Book 2 (or your label) Days/Pds Remaining columns, plays an integral role in the system calculation of depreciation for methods using the Date of Purchase basis.
This column displays the optional amount taken purchase YTD assigned to this record for this book, as applicable, when the asset was saved in the Maintain Asset Master Info screen. Data displayed in this column may have been edited in the Other Books Info subtask of the Maintain Asset Master Info screen or in this screen.
This column is active only for depreciation methods that use the Date of Purchase basis. (You must select a Date of Purchase or Fiscal Year basis in the Depr Methods - Basic Setup screen when you set up each depreciation method.)
If the method from the Book 2 (or your label) Depr Method Code column in this screen references a method that uses a Date of Purchase basis, this column is active.
If the method from the Book 2 (or your label) Depr Method Code column in this screen references a method that uses a Fiscal Year basis, this column is not active.
For a new asset record, no data should display in this column because there has been no historical purchase year activity. You should leave this column blank for a new record because the system will increment (or possibly decrement) the value in this column by the amount of depreciation posted each time the current Fixed Assets period is closed.
The value in this column will be different from the value in the Book 2 (or your label) FYTD Depreciation column except when the date of purchase coincides with the start of your fiscal year. The Book 2 (or your label) Amt Taken Purchase YTD column displays purchase year data, while the Book 2 (or your label) FYTD Depreciation column displays fiscal year data.
During the initialization of your historical records, for records linked to depreciation methods that use a Date of Purchase basis, you should enter the correct value in this column for the current purchase year of the asset. Please refer to Special Topic FA-3, "Calculate Depreciation," for additional information on how to correctly initialize this column.
For both new and historical records, the system will change the value in this column by the amount of depreciation posted when the current accounting period is closed.
For both new and existing asset records, you can edit data that displays in this column. Because system calculations use this data to determine whether depreciation computations should take place for each record, and the manner in which they should take place, use caution if you change data in this column for property records once they have begun depreciating in the system.
Please refer to the documentation for the Book 2 (or your label) Auto Calc column.
Please refer to the documentation for the Book 2 (or your label) Depr Method Code column.
Please refer to the documentation for the Book 2 (or your label) Useful Life column.
Please refer to the documentation for the Book 2 (or your label) Depr Start Date column.
Please refer to the documentation for the Book 2 (or your label) In-Srvc Date column.
Please refer to the documentation for the Book 2 (or your label) Curr Depr Year column.
Please refer to the documentation for the Book 2 (or your label) Days/Pds Remaining column.
Please refer to the documentation for the Book 2 (or your label) Total Cost column.
Please refer to the documentation for the Book 2 (or your label) Salvage Percent column.
Please refer to the documentation for the Book 2 (or your label) Salvage Value column.
Please refer to the documentation for the Book 2 (or your label) Amt to Depreciate column.
Please refer to the documentation for the Book 2 (or your label) FYTD Depreciation column.
Please refer to the documentation for the Book 2 (or your label) Prior FY Depreciation column.
Please refer to the documentation for the Book 2 (or your label) Annual Depreciation column.
Please refer to the documentation for the Book 2 (or your label) Current Pd Depreciation column.
Please refer to the documentation for the Book 2 (or your label) Accum Depreciation column.
Please refer to the documentation for the Book 2 (or your label) Book Value column.
Please refer to the documentation for the Book 2 (or your label) Amount Taken Purchase YTD column.
The system stores Asset Master data displayed in this screen (and in the Other Books Info subtask of the Maintain Asset Master Info screen) in the ASSET_OTH_BK_DEPR (Asset Other Books) table and the ASSET (Asset) table.
The system stores the labels for the other books in the FA_BOOK_SETTINGS (Book Settings) table.
Lookup in this screen accesses data from the DEPR_MTHD (Depreciation Methods) table.