GL Book and Additional Books for Asset Depreciation

In addition to processing depreciation or amortization for your general ledger for your financial statements ("GL book" depreciation), you can have Vision calculate depreciation or amortization differently by using "additional books."

For example, you can set up an additional book to have Vision calculate depreciation or amortization for tax purposes (based on the United States Internal Revenue Service's (IRS) depreciation guidelines) or for other non-financial reporting.

The depreciation and amortization for additional books is not posted to your general ledger.

Entering Information for Calculating GL Book and Additional Book Depreciation

For each asset item that you need to depreciate or amortize, you set up the information for calculating the depreciation or amortization for your general ledger (GL Book) on the GL Cost tab and GL Book tab in the Equipment Info Center.

To have depreciation or amortization calculated for additional books, you first set up an additional book on the Additional Books tab in Configuration > Asset Management. You assign an ID, name, description, and whether or not the addition book uses Section 179. Then you enter the information for calculating depreciation or amortization for additional books for each asset item on the Additional Books tab in the Equipment Info Center. Some of the fields on the Additional Books tab prefill from entries made on the GL Book tab and GL Cost tab in the Equipment Info Center.

Running Depreciation Processing for GL Book and Additional Books

When you run depreciation processing in the Asset Management application, you run it separately for your general ledger book (GL book) and any additional books that you set up. You cannot process both types of books at the same time. Journal entries for your general ledger are created when you process depreciation for your GL book, but not when you process depreciation for additional books.

Journal Entries for Depreciation for Your General Ledger Book

When you run depreciation processing, you choose whether or not to have Vision automatically post the journal entry for your GL book depreciation and/or amortization. If you choose not to have the journal entry posted automatically, you must post the transaction file for the journal entry in Transaction Center > Transaction Posting after you run depreciation processing.

Viewing the Depreciation for Additional Books

After you run depreciation processing, you can see the depreciation and amortization that is calculated for additional books for asset items in the following places in Vision:

• In a posting log in Transaction Center > Posting Logs. Although no journal entries are created for depreciation and amortization for additional books, Vision still creates a posting log that contains the depreciation and amortization calculations.
• On the History tab in Asset Management > Asset Review. In Asset Review, you select an asset item to view, and on the History tab, you select a specific additional book whose depreciation and amortization you want to view.
• In the Asset Detail report in Reporting > Equipment. In the reports options, you can select to include only the information from an additional book on the report.