Step 4: Manage Depreciation Methods

Set up required depreciation methods on the Manage Depreciation Methods screen if you plan to enter data for depreciable assets.

The Depr Method Code field (or G/L Book Depr Method Code field, as applicable) is a system-required validated entry on the G/L Book Info tab of the Manage Asset Master Information screen (or the Manage Asset General Ledger Book Information screen) and the Manage Asset Template Information screen. The Depreciation Method is also validated on the Manage Autocreation Transactions screen, although it is not required to save changes to records on that screen. However, a valid Depreciation Method must exist on an autocreation record that is depreciable with depreciation based on years before that record can be processed into a Fixed Asset.

The Depr Method Code field for your optional other books, as applicable, is also validated against methods from this setup screen. The only data from which to choose for entry in the Asset Master or Asset Template Depr Method Code fields are validated depreciation method codes from the Manage Depreciation Methods screen.