Asset Management History Loading Utility

The Asset Management application includes the ability to calculate an asset item's depreciation amount. This requires that you enter any historical accumulated depreciation amounts for the asset item before the Asset Management installation cutoff date.

You do this one time, and any work that occurs before the cutoff date is considered history data (but work that occurs after is considered transaction data).

DPS applies the historical amounts that you enter to the overall depreciation calculations for the asset item. Historical amounts may be entered for the GL Book and for any additional books that your enterprise uses. These amounts may include the following:

• Current Year Depreciation: This allows for tracking current year depreciation amounts when you implement Asset Management in the middle of a fiscal year. The current fiscal year asset amount can be viewed in the Asset Review.
• Prior Year Depreciation: This is the total depreciation amount for all prior years. If you enter a current year depreciation amount, this amount would be less the current year depreciation amount.
• Both: If you enter both current and prior year depreciation amounts, DPS sums and applies the total to the depreciation calculation.

When you run depreciation processing in Asset Management > Depreciation Processing, DPS calculates the total depreciation value for the asset item as of the current period. Each processing, DPS will calculate and post the cumulative depreciation value less any prior depreciation amounts posted. You can review the break out of the depreciation amounts on the History tab in Asset Management > Asset Review.

DPS also ties each asset item's total depreciation amount to the asset account on the Balance Sheet report. This report provides an overview of the totals for your assets, liabilities, and net worth as of the current date.

If you use multiple companies, when you enter historical depreciation information for your asset items, you are doing so for the active company.