Processing Depreciation

Note:  For organizations with the School Accounting System installed locally, make a current backup before completing the Process Depreciation option as a precaution.

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

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

  1. If a batch already exists, the Process Depreciation Batch Search screen will appear.  To continue depreciating 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 Depreciation

Note:  Only one batch can be created (open) at a time within the Process 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 Depreciation.

  1. The Process 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, the total cost less the salvage value less the accumulated depreciation is greater than zero, have not had depreciation calculated for the current year (as based on the Processing Month of the batch) using the Process Depreciation option, 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.

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 current year depreciation; when prompted to continue, click Yes.

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