The depreciation closing transaction is used to transfer fixed asset values adjusted with inflation accounting at a given date to the standard depreciation table.
This transaction is performed using Depreciation Closing option located under the Operations menu of the Fixed Asset Management section.
Depreciation closing is performed for required fixed asset cards or records by applying filters. Filters used in depreciation closing transactions are:
Filter | Value |
|---|---|
Fixed Asset Code | Group / Range |
Fixed Asset Description | Group / Range |
Fixed Asset Aux. Code | Group / Range |
Fixed Asset Record Code | Group / Range |
Purchase Date | Start / End |
Month | Month selection |
Year | Year entry |
Depreciation Duration | All / Expired / Not Expired |
Depreciation Table | Actual / Alternative |
The Month and Year parameters specify the date, which is the basis of the closing transaction. The closing is performed by processing the depreciation line of the inflation table of this date.
The following points should be considered when Closing Depreciations.
- Depreciation closing cannot be performed for any other date then those specified on the month and year fields of the records on the depreciation table. In other words; the month and year filters of the depreciation closing must match the month and year values on the depreciation table. Otherwise, "Transaction Complete" message will be displayed but the table will not be closed.
- When the date of a closing transaction is entered on filters for a new closing transaction, the related records are scanned according to the filters entered and the depreciation table lines of fixed assets (which are not closed on that date) are closed.
- Values occurred on the closing date are displayed in italics on the closing line.
- The algorithm used for the inflation accounting depreciation tables report will be applied as is to calculate the "Post-Adjustment" values displayed on the closing line.
- When the depreciation table is recalculated after the closing transaction, table values before the closing transaction date will no longer be processed, and future calculations will be performed using the values on the depreciation closing line.
The "Close Depreciation" transaction can be undone, allowing depreciation calculations for depreciation records before the closing date.
Closing values can be changed using "Closing Value Update" window located in the right mouse button menu of the Depreciation Table closing line. The following values can be changed:
- Total Cost
- Fixed Asset Value (Before Rev.)
- Accumulated Depreciation (Before Rev.)
- Book Value (Before Rev.)
- Fixed Asset Value (Post-Rev.)
- Accumulated Depreciation (Post-Rev.)
- Book Value (Post-Rev.)
- Value Increase Fund
- Yearly Depreciation
- Total Accumulated Depreciation
- Book Value (EOY)
- Periodic Depreciation
- Periodic Accumulated Depreciation Revaluation
- Periodic Active Revaluation
If there are depreciation lines left after the closing transaction, when values are entered on the closing line the depreciation calculations after the closing line are automatically updated according to the new closing values.