Run the monthly depreciation
The month's depreciation expense is posted for every active asset.
Before you start
- Fixed assets registered with depreciation on, see the tutorial Register existing fixed assets.
- Access to close periods and post journals.
Steps
Step 1: Open the month's depreciation
In the checklist, on the Monthly asset depreciation row, click Review depreciation. You can also go to Master Data › Assets and click Run depreciation.
Screenshot coming soon
The Monthly asset depreciation row in the checklist with the Review depreciation button.
Step 2: Review the ready lines
Check the number of assets, the ready lines, the issues to fix and the total depreciation. Keep Select all ready lines ticked, because a partial run is refused.
Screenshot coming soon
The Run depreciation page with the asset, ready line and total depreciation summary.
Step 3: Post the depreciation
Click Run depreciation. If nothing is due, the button reads Confirm no depreciation. Once posted, click Open depreciation journal to see the journal.
Screenshot coming soon
The posted depreciation result with the Open depreciation journal button.
When you are done
- The depreciation journal is posted, and the Monthly asset depreciation row in the checklist turns Clear.
- If no asset depreciates that month, confirming with no depreciation also clears the row.
Common problems
A message says depreciation must be rerun for this period
Asset data changed or the period was reopened after depreciation was posted. Run the depreciation once more.
There are issues to fix
An asset with incomplete data can't be depreciated. Complete the asset in Master Data › Assets, then come back to this page.
Something still unclear?
Ask us on WhatsApp. The Finday team replies during office hours and can walk you through it in your own account.