Journal Entries Created During Depreciation Processing

When you run depreciation processing in the Asset Management application for your GL book, journal entries are created for posting depreciation and/or amortization to your general ledger. Journal entries are not created when you run depreciation for additional books.

GL Book

When you run depreciation processing, you can select the option to have Deltek automatically post depreciation and amortization to your general ledger. If you do not select this option, you must post the transaction file containing the journal entries in Transaction Center > Transaction Posting. The transaction type is Journal Entries. The transaction file name is AMDep <YYYY-MM-DD > <name of the posting owner> (where <YYYY-MM-DD > is the year, month, and day that the transaction file was created).

You enter the accumulated depreciation and depreciation expense accounts that are used for posting depreciation/amortization to your GL book, for each asset item, in the GL Accounts section on the GL Book tab in the Equipment hub. The accounts prefill on the GL Book tab, based on the asset type that you enter in the Asset Type field on the tab. You can change the prefilled accounts as needed. The asset types are set up in Settings > Accounting > Asset Management.

The following accounts are debited and credited for depreciation processing.

Account	Debit	Credit
Depreciation Expense	X
Accumulated Depreciation		X

If you use multiple currencies, the journal entries for depreciation and amortization use your company's functional currency.

Additional Books

Journal entries that impact the general ledger are not created when you process depreciation and amortization for additional books. However, a posting log is still created for additional books, which contains the depreciation and amortization calculations for the additional books. View the posting log in Transaction Center > Posting Logs.