Depreciation classes are groups of assets that depreciate at the same rate, method and to the same general ledger accounts.
The Depreciation Class Additions module allows you to build a set of depreciation classes that you can add to an asset.
Class
Enter the 2 character code that will represent this depreciation class within FAS.
Rate
Enter the rate this class of asset will depreciate at. For example:
0.10 for 10%.
If using Straight Line Method, this rate is not required in calculation
Method
Enter the method this class will use to calculate depreciation with.
Current methods available are:
SL - Straight Line
Treatment
Enter the method of treatment for this class of asset
Current methods available are:
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½ normal (not enabled)
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Prorate on time (not enabled)
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None (no depreciation in year of acquisition, begin first period of next year)
-
Full (starting month after acquisition)
Accumulated Depreciation G/L
Enter the accumulated depreciation general ledger account number.
Expense GL
Enter the expense general ledger account number.
Description
Enter up to 30 characters of description for this depreciation class. The description should be as informative as possible. e.g., 'Light Duty Vehicle 3000 GVW OR LESS'.