Run Depreciation Processing for Your GL Book
When you process depreciation, Vantagepoint 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.
Vantagepoint 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.
The Use Files to Group Transactions option in determines how journal entries are posted. Select Yes to group your entries in batches. Select No to post journal entry files individually.
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:
Parent Topic: How to...