Run Depreciation Processing for Your GL Book

When you process depreciation, DPS calculates, and creates journal entries for, depreciation and amortization for asset items for your company's general ledger ("GL book" depreciation).

Normally, you process depreciation on a monthly basis. DPS calculates depreciation and amortization for the accounting period that you have open on your screen when you run the process. If you use multiple companies, you must run depreciation for each company.

Prerequisites: Before you can process depreciation and amortization for your GL book, you must:

• Be sure that an asset item's status is Active in the Asset Status field on the GL Book tab in the Equipment hub.

  Asset items that are created automatically from purchase orders and accounts payable vouchers have an inactive status that you must change to active.

• Enter depreciation or amortization information for asset items on the GL Cost and GL Book tabs in the Equipment hub.

To run depreciation processing for your general ledger book:

1. On the Navigation menu, click Asset Management > Depreciation Processing.
2. On the Depreciation Processing form, complete the entries in the fields on the form.
   1. The Select Specific Asset field prefills with All Assets. If you do not want to process depreciation for all asset items, use the Equipment lookup to select one or more asset items.
   2. Be sure that the GL Book option is selected.
   3. Select the Replace Existing unposted depreciation journal entry of the same file name check box if you want an existing unposted depreciation transaction file in the current period to be overwritten and replaced with the transaction file that will be created when you run depreciation processing.
   4. If you want the journal entry for depreciation processing to be posted automatically when you run depreciation processing (with no transaction file created), select the Post depreciation as it is generated (do not create transaction file) check box.
   5. If you did not select the Post depreciation as it is generated (do not create transaction file) check box, enter a journal entry file name in the Journal Entry File Name field.
   6. If the Transaction Date field displays, enter a transaction date for the journal entry for the depreciation and amortization.
   7. If you use diaries, select a diary in the Diary field.
3. On the Depreciation Processing toolbar, click Run.
4. On the dialog box that warns you that you are about run depreciation processing and asks you if you want to continue, click Yes.
5. When processing is finished, click OK on the dialog box that tells you how many depreciation entries were generated.
   • If you selected the Post depreciation as it is generated (do not create transaction file) check box in step 2: The journal entry for the depreciation and/or amortization is automatically posted. You can view the posting log in Transaction Center > Posting Logs.
   • If you did not select the Post depreciation as it is generated (do not create transaction file) check box in step 2: A transaction file is created for the journal entry. You must post the file in Transaction Center > Transaction Posting. The transaction type is Journal Entries. The transaction file name is AMDep <YYYY-MM-DD> <name of posting owner> (where <YYYY-MM-DD> is the year, month, and day that the transaction file was created).