Costpoint Online Help

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Manage Accumulated Depreciation Account Codes

Use this screen to create accumulated depreciation "shorthand" codes to represent valid General Ledger account, organization, project, reference 1, and reference 2 combinations to link to your depreciable Asset Master and Asset Template records.

An accumulated depreciation account code is system-required in an Asset Master record (and in an Asset Template record if you use this optional feature) for depreciable records. The system will validate your accumulated depreciation account code entry in master records against data from this screen.

The accumulated depreciation account codes established on this screen point to the G/L account, organization, project, reference 1, and reference 2 combination to which accumulated depreciation should be charged when depreciation entries are posted.

Accumulated depreciation accounts and organizations (and optionally projects and reference numbers) normally store the credit side of depreciation entries when positive depreciation is posted. Accumulated depreciation accounts serve as offsets to the balance sheet asset accounts.

You should set up accumulated depreciation account code data on this screen as one of the first steps in the initialization process, before you begin to add data in an Asset Master or Asset Template record. Please refer to the Related Topic, Initialization Procedures, for additional information.

Although you can add to, delete from, or change the information on this screen (within the system rules) at any time, use caution in the timing of your edits, which may affect your posting entries as well as the types of records included in system reports.

Note: The data on this screen is company-specific and will be available for use only by your company of login. If you have set up multiple companies in Costpoint, you can enter, edit, view or use data on this screen for each company only by using the separate company login.

If an accumulated depreciation account code from this screen is currently in use (that is, it has been assigned in either an Asset Master record or an Asset Template record), you cannot delete that code from this screen. If you want to delete it, you must assign a different code in the applicable records (either manually or by using the Manage Asset Master Global Changes function). When the accumulated depreciation account code is no longer in use, you can delete it from this screen.

If you plan to add records for depreciable property, you should set up accumulated depreciation account code data on this screen as one of the first steps in the initialization process before you begin to add data on the Manage Asset Master Information or Manage Asset Template Information screens. Although you can add to, delete from, or change the information on this screen (within the system rules) at any time, use caution in the timing of your edits, which may affect your posting entries as well as the types of records included in system reports.