NetAsset - Generate Depreciation Schedules

Use Case: Once all proposals have been processed as newly created asset records, the asset depreciation schedules can be generated, which highlights the expected depreciation of the assets over their useful life.

NOTE: A depreciation schedule can be re-generated multiple times and is NOT locked until journal entries have been recorded against the table. Once recorded, adjustments can only be made via revaluation, build up, or disposal.

STEP BY STEP PROCESS

  • Navigate to the Generate Depreciation Schedules page by selecting NetAsset > Create New Asset > Generate Depreciation Schedules
  • Enter any desired filters and click Filter Results if you would only like a subset of pending assets to have depreciation schedules generated (or re-generated). Once you’re happy with the assets displaying in the sublist, click the Mark All button then click the Generate Schedules button.
  • Refresh the page until the Status reads Complete, indicating that the schedule generation is complete 
  • To review the schedule, click the Asset link and navigate to the Depreciation Schedule sublist:

  • Note that the Period 0 line establishes the Fixed Asset’s Net Book Value as the Capitalized Asset Value from the header at the beginning of the period the in-service date occurs in
  • Periods 1-### correspond to subsequent month activity, which includes the following
    • Depreciation Amount calculated from the formula or table on the Depreciation Method
    • Accumulated Depreciation incremented by the Depreciation Amount
    • Net Book Value decremented by the Depreciation Amount each period until the Residual Value Estimate is reached
  • If the Depreciation Convention on the Asset Type is Mid Period an extra period will be added to the end of the schedule with the expected depreciation split in half and put into the first and last periods.
  • Schedule Generation can be kicked off for an individual asset by clicking the Generate Schedule button on the asset record



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