Fixed Assets - Depreciation Start Date

Completed

Fixed Assets - Depreciation Start Date

What we’re doing:

In Fixed Assets, added a new Depreciation Start Date field to Additions, Changes, Deletions, and Inquiry. When used, the system will use this date in depreciation calculation rather than the acquired date. If left blank, the system will continue to use the acquired date as the reference to start depreciation.

Why we think you’ll like it:

When boards acquire assets, they don’t always depreciate at the same time. By giving users control over when to start depreciation, they will have more accurate reporting.

Learn more:

Other areas of Fixed Assets that are affected by this change include:

• Mass Asset Disposal:

  • Changed the prompt label from ‘Acquired Prior To’ to ‘Depreciation Start Prior To’ (results filtered using asset depreciation start date if defined, otherwise it will use acquired date)

  • Column heading changed from ‘Acq Date’ to ‘Dep Start’

• Depreciation Processing

  • When calculating depreciation start period, the depreciation start date is used if available, otherwise it will continue to use acquired date.

• Asset Reports

  • The new depreciation start date has been added next to the acquired date on all asset reports where space was available:

    • Asset Report - Report by Item #

    • Asset Report - Report by Group Code

    • Asset Report - Report by Serial #

    • Asset Report - Report by Commodity Code

    • Assets on Hold Report

    • Asset Description & Value by Barcode

    • Active Assets with Useful Lives

    • Assets Acquired by Start & End Date

    • Assets Acquired - Sorted by Account

    • Active Asset Listing by G/L Code

    • Active Assets by Room w/ Cost/AccDep/Bk

    • Active Assets by Room Number

    • Asset Report and Export (added to Excel output only)