Deltek Vantagepoint Help

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Depreciation Processing

Use Depreciation Processing in the Asset Management application to process depreciation and amortization for asset items in the Equipment hub.

In addition to depreciating asset items, you can amortize them if they are capital leases or prepaid items, such as prepaid insurance. You normally process depreciation and amortization on a monthly basis.

When you run depreciation processing in Asset Management > Depreciation Processing in the desktop application:

  • The Use Files to Group Transactions option in Settings > Accounting > Transactions determines how journal entries are posted. Select Yes to group your entries in batches. Select No to post journal entry files individually.
  • Depreciation and amortization are processed for the accounting period that you have open at the time of processing.
  • You can process depreciation and amortization for all asset items or for one or more asset items that you select individually.
  • You process depreciation and amortization for your general ledger (GL book) and additional books separately.

    You create additional books if you need to calculate depreciation differently from how you calculate it for your general ledger, such as for tax purposes.

  • Journal entries for depreciation and amortization are created for your GL Book. No journal entries are created for additional books.
  • If you have multiple companies, you run depreciation processing separately for each company. Depreciation processing is performed for the active company that you select when you log in.
  • If you use multiple currencies, the journal entries for the depreciation and amortization posting use a company's functional currency.

You can schedule depreciation processing to occur automatically at a future time. You can use the Undo Posting advanced utility to undo depreciation postings.