1Step by step #
- Sign in to the branch whose assets you are charging.
- On the Run tab pick the day to charge up to - usually the month end - and press Work it out (F3) .
- Read the list: one line per asset, with the days charged and the book value before and after.
- Read Left out . A tinted line is missing something on Depreciation Setup; put it right and work it out again.
- Check the Journal, pick the Journal voucher type , write a narration if you want one, and press Post (F5) .
2How the charge is worked out #
- The charge is the year's depreciation × days charged ÷ days in the financial year. A month is charged by its days, so February costs less than March.
- Straight line : (cost less residual value) × rate; or spread evenly over the useful life.
- Written down value : the rate on the book value the asset had when the financial year began.
- An asset is charged from the day after it was last charged - so a month you skipped is caught up by the next run, and the Note says so.
- A new asset is charged from the day it was put to use. An asset given an opening book value is charged from the day after that value's day.
- No asset goes below its residual value: the last charge is what is left above it.
- A run stays inside one financial year. To charge across a year end, post up to the last day of the year first, then run again.
- Financial years before the first run are not caught up. Give such an asset its opening book value on Depreciation Setup instead.
3What Post does #
- Saves one Journal dated the day charged up to: each category's expense ledger debited, its credit ledger credited.
- Keeps one line per asset - that is the schedule.
- Moves each asset's depreciation so far, book value and "charged up to" day forward.
- All of it happens together or not at all. If the Journal cannot be saved, nothing is posted and the reason is shown.
- Posting needs the right to alter the fixed-asset register and the right to create the Journal voucher type, and the day must be inside the company's financial period.
4Reversing a run #
- On Posted runs , press Reverse on the newest posted run of a branch and write why.
- A second Journal is saved, the other way round and on the same date, and every asset is put back as it was before the run.
- The first Journal is not deleted: the books show both. Do not cancel or change either Journal on the voucher screen - the assets would no longer agree with the books.
- To undo an older run, reverse the later ones first, newest first.
5Schedule #
- One line per asset of the branches you may see, for a financial year: depreciated before the year, posted in it, still to come, and where it ends the year.
- Year by year shows one asset to the end of its life. Years marked posted are from the runs; the rest are what the method gives from here.
- Drag a heading above the list to total by category or branch.
6Income tax #
- For income tax, assets are pooled in blocks ; a block is depreciated as a whole on its written down value. The block and its rate are named on each category in Depreciation Setup.
- An asset put to use for fewer than 180 days in the year gets half the rate that year.
- Money received for assets of the block sold in the year (Fixed Asset Sale vouchers) is taken off the block before the rate is applied.
- Type each block's opening value for the first year and press Save openings . Close the year once it has ended: its closing values become the next year's openings.
- This statement is for the whole company and is never posted . It is for your tax computation; confirm the figures with your tax adviser.
7Toolbar & keyboard #
- F3 works the run out, or reads the open tab again.
- F5 posts the run (it asks first), or saves the income-tax openings; in a window it presses the window's main button.
- Esc closes the open window, else the tab.
8If something does not work #
"Choose the day to charge depreciation up to." / "That day is more than a year ahead."
- Why
- No day is chosen, or it is too far ahead to be meant.
- What to do
- Pick the day - usually the last day of a month.
"No branch is signed in to, so there is no branch to charge depreciation for."
- Why
- A run is for one branch, the one you are signed in to.
- What to do
- Sign in to the branch whose assets you are charging.
"Depreciation is already posted for this branch up to .... Choose a later day, or reverse that run first."
- Why
- The day chosen is on or before the day the branch is already charged up to.
- What to do
- Pick a later day. To redo a posted period, reverse its run on the Posted runs tab first.
"This branch has no assets in the register."
- Why
- No asset on Fixed Assets Master carries the branch you are signed in to.
- What to do
- Check the Branch on each asset, or sign in to the right branch.
"There is nothing to charge up to .... The list below says why for each asset."
- Why
- Every asset of the branch is left out: fully depreciated, charged already, switched off, or missing something.
- What to do
- Read Left out. Put right the tinted lines on Depreciation Setup, then work it out again.
Left out: "Its category has no depreciation ledgers. Pick them on Depreciation Setup." / "It has no category, so there are no ledgers to post to." / "A depreciation ledger of its category no longer exists or is inactive."
- Why
- The Journal needs a ledger to debit and one to credit, and they come from the asset's category.
- What to do
- Pick both ledgers on the category in Depreciation Setup; give the asset a category on Fixed Assets Master.
Left out: "No depreciation method is set ..." / "The purchase cost is nought ..." / "It has no put-to-use, install or invoice date ..." / "Written down value needs a rate." / "Straight line needs a rate or a useful life."
- Why
- The asset cannot be depreciated as it stands.
- What to do
- Depreciation Setup lists the same asset tinted, with what is missing. Complete it there.
Left out: "Depreciation is switched off for it." / "Its method is 'not depreciated'." / "It is marked inactive." / "It left the books on ...."
- Why
- The asset is deliberately not charged: switched off, land or the like, inactive, or disposed of.
- What to do
- Nothing needs doing. To charge it after all, change it on Depreciation Setup or Fixed Assets Master.
Left out: "It is put to use on ..., after this day." / it is already charged up to this day / it is fully depreciated
- Why
- There is nothing to charge for this asset in the period.
- What to do
- Nothing needs doing.
An asset's charge is larger than a month's worth
- Why
- It is charged from the day after it was last charged. A month that was skipped, or an asset added late, is caught up in one line and the Note says from when.
- What to do
- Nothing needs doing if the catch-up is right. If not, check the asset's put-to-use date and opening book value on Depreciation Setup.
"This company has no Journal voucher type to post depreciation on." / "Pick the Journal voucher type to post on." / "'...' is not a Journal voucher type."
- Why
- Depreciation is posted as a Journal voucher, and no type is chosen - or none exists.
- What to do
- Pick the type. If the list is empty, create a Journal voucher type in Voucher Manager.
The depreciation Journal's number reads FA-DEP-12, and its reversal FA-DEP-12-R
- Why
- The Journal type is numbered by hand, and nobody is there to type a number, so the program gives its own: FA-DEP- and the run's number.
- What to do
- Nothing needs doing. To have the type's own running numbers instead, set its numbering to automatic in Voucher Manager, or pick a Journal type that numbers itself.
"That day is outside the company's financial period (... to ...)."
- Why
- A voucher can only be dated inside the financial period of the company you are signed in to.
- What to do
- Pick a day inside the period, or sign in to the company of that financial year.
"The day was changed to ... after the figures were worked out for ...."
- Why
- The day in the box is not the day the list on the screen is for.
- What to do
- Press Work it out (F3), review the figures, then Post.
"The figures have changed since they were shown (... then, ... now) ..."
- Why
- An asset or its set-up was changed by somebody between working it out and posting, so the total is different.
- What to do
- Press Work it out (F3), review the new figures, then Post.
"You do not have the right to change the fixed-asset register (Fixed Assets Master, Alter). Ask your administrator."
- Why
- Posting and reversing move each asset's book value, which needs the Alter right on Fixed Assets Master.
- What to do
- Ask your administrator for that right.
A refusal naming the Journal voucher type's Create right, or its date or approval rules
- Why
- The Journal is saved through the same checks as the voucher screen: your right to create that voucher type, its back-date limits and its other rules.
- What to do
- Ask your administrator for the Create right on the Journal type, or pick a type you may create.
"The Journal could not be saved, so nothing was posted. ..." / "The Journal is not in the books."
- Why
- The voucher save refused or failed; the sentence after it says why. The run, its lines and the assets are all left as they were.
- What to do
- Put right what the message names (a locked period, a ledger not allowed on the type, a missing series) and post again.
"The narration is 450 characters at most." / "The reason is 450 characters at most."
- Why
- The text is too long to keep.
- What to do
- Shorten it.
"Write why the run is reversed - it is kept with the run."
- Why
- A reversal needs a reason of at least a few words.
- What to do
- Write the reason.
"This run is reversed already." / "The run was reversed by somebody else meanwhile."
- Why
- The run was reversed before, or by another user while your window was open.
- What to do
- Press Refresh (F3).
"Only the newest posted run of a branch can be reversed: later runs rest on this one. Reverse those first, newest first."
- Why
- Each run starts from where the one before left every asset.
- What to do
- Reverse the later runs first, newest first.
"This run belongs to .... Sign in to that branch to reverse it: the reversing Journal is that branch's voucher."
- Why
- You are signed in to a different branch from the run's.
- What to do
- Sign in to the run's branch and reverse it there.
"A ledger the run posted to no longer exists, so the reversing Journal cannot be written."
- Why
- A ledger the run debited or credited was deleted afterwards.
- What to do
- Restore the ledger, or ask your administrator: the run cannot be reversed without it.
A reversal refused because an asset was charged again, or changed, since the run
- Why
- An asset of the run no longer stands where the run left it, so putting it back would lose something.
- What to do
- Reverse the later run that charged it first. If its opening value was changed by hand, ask your administrator.
"The reversing Journal could not be saved, so nothing was reversed. ..."
- Why
- The voucher save refused; the sentence after it says why. The run stays posted.
- What to do
- Put right what the message names and reverse again.
"That run was not found, or belongs to a branch you cannot see." / "That asset was not found, or belongs to a branch you cannot see."
- Why
- It was removed, or it is of a branch you have no access to.
- What to do
- Press Refresh (F3).
Year by year: "There is nothing to show for this asset ..."
- Why
- The asset is not depreciated, switched off, or missing something on Depreciation Setup.
- What to do
- Complete it on Depreciation Setup.
"No income-tax block is named yet."
- Why
- No category names an income-tax block and rate.
- What to do
- Name the block and its rate on each category in Depreciation Setup.
"This block is no longer named on any category, so it has no rate."
- Why
- A block kept for an earlier year is not on any category now.
- What to do
- Name it on a category again, or ignore it if its value is nought.
"...: its opening is carried from the closed year before and cannot be typed."
- Why
- The year before is closed, so its closing value is this year's opening.
- What to do
- To change it, open the year before again, correct it there, and close it.
"...: the opening value cannot be below nought." / "'...' is not a block of this company."
- Why
- A figure below nought, or a block that no longer exists.
- What to do
- Correct the figure; press Show (F3) to read the blocks again.
"The year has not ended yet (...), so it cannot be closed."
- Why
- A year is closed once all its additions and sales are in.
- What to do
- Close it after the year end.
"This year is closed. Open it again before changing it." / "This year is not closed." / "A year is either closed or opened again, not both."
- Why
- A closed year's figures are fixed; an open year cannot be opened again.
- What to do
- Use Open it again first, then change and close it.
"The year after this one is closed and rests on it. Open that one first."
- Why
- The next year took its openings from this one.
- What to do
- Open the later year again first, then this one.
"Choose the financial year." / "Choose a day of the financial year."
- Why
- No day is chosen.
- What to do
- Pick any day of the year wanted.
"Sent for approval (request ...): ... Nothing is posted until an approver approves it. Its progress is on Fixed Assets Work-flow."
- Why
- Approval is switched on for this action in Fixed Assets Settings. Nothing was posted: a request was raised and the approvers were told on the alert bell and by e-mail.
- What to do
- Nothing needs doing. Watch it on Fixed Assets Work-flow; it can be withdrawn from there while it waits.
"This is already waiting for approval (request ...). Nothing was posted."
- Why
- Exactly the same thing was asked before and is still waiting, so a second request was not raised.
- What to do
- Wait for the approver, or withdraw the request on Fixed Assets Work-flow and raise it afresh.
"... needs approval, but nobody is named to approve it (or the user group named is empty). An administrator names the approvers on Fixed Assets Settings."
- Why
- Approval is on for this action, but the approvers named stand for nobody now - the users were made inactive, or the group lost its members.
- What to do
- An administrator opens Fixed Assets Settings and names an approver, or switches the approval off.
This is the help InvoiceNET® ERP shows beside the Depreciation Run screen. Whether you have the screen depends on the modules of your licence and the rights your administrator has given you.
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