Processing Catch-Up Depreciation

Note:  As a precaution, make a current backup before completing the Process Catch-Up Depreciation option.

  1. From the Fixed Asset Inventory screen, select the Options menu and then Process Catch-Up Depreciation.

Note:  All batches within the Adjust Accumulated Depreciation option must be posted in order to access the Process Catch-Up Depreciation option.

  1. If a batch already exists, the Process Catch-Up Depreciation Batch Search screen will appear.  To continue calculating the accumulated depreciation for the assets in the existing batch, select the batch by double-clicking on the batch description.  If a batch does not exist, the batch options screen will appear immediately in order to create a new batch.  

Steps to Complete Batch Options for Process Catch-Up Depreciation

Note:  Only one batch can be created (open) at a time within the Process Catch-Up Depreciation option.  Also, a batch can only be created with a Processing Month that is in the same month or a later month than the most recent batch for Process Catch-Up Depreciation.

  1. The Process Catch-Up Depreciation screen will appear listing all current assets in the Asset File Maintenance option that meet the following:  are set up to depreciate, have a useful life greater than zero, were purchased in a prior fiscal year (as based on the Processing Month for the batch), have not had depreciation calculated or entered for the period from when the asset was purchased up to (not including) the current fiscal year, and are not included in an unposted batch within the Process Asset Disposal option.

  2. Verify the information on the screen for those assets that will be depreciated, or print a listing to verify the information.

Tip:  Account numbers reflecting the debit and credit amounts calculated for the catch-up depreciation (if applicable) will only appear if the Post to General Ledger field on the Batch Options screen is selected.

Steps to Print a Report  

  1. If any information needs to be changed, close this screen by clicking the Cancel button and then make the necessary changes in the Asset File Maintenance option for the desired asset.

  2. Once all the information is correct, click the Execute button to process the accumulated depreciation; when prompted to continue, click Yes.

  3. After the depreciation process is complete, a message will appear; click OK.