Depreciation Schedule Fields

A depreciation schedule is a single amount by which an asset is to be depreciated by on a certain date. Depreciation schedules are created when you click Generate Depreciation Schedules on a fixed asset or a depreciation book. The depreciation schedule that is generated depends on the depreciation method and time period basis chosen on the depreciation book.. Here is a description of the fields on a depreciation schedule.

Field Name Description
Active Indicates whether the depreciation schedule is active. When this checkbox is selected, the status of the depreciation schedule is set to Exported. If the depreciation schedule belongs to an accounting book, upon export the record is passed to the accounting system. Once a depreciation schedule has been exported, it cannot be changed.
Note:

For record keeping and auditing reasons, if the depreciation schedule belongs to a tax, MACRS tax, or custom depreciation book, we recommend that you select the Active checkbox on each depreciation schedule that has been claimed for tax or included in an analysis report.

Once the Active checkbox is selected on a depreciation schedule associated with a tax, MACRS tax, or custom depreciation book, the status of that depreciation schedule is changed to Exported and the Accumulated Depreciation, Net Book Value, and Written Down Value calculations are updated. The messages to FFA are only sent if it’s an Accounting Book.
As of Date Internal use only.
Depreciation Amount Amount by which to depreciate the asset for this schedule.
Depreciation Book The depreciation book to which the schedule relates.
Effective Depreciation Date Date on which the depreciation schedule was applied to the fixed asset.
Fixed Asset Fixed asset to which the schedule relates.
MACRS Rate If the schedule was generated by a MACRS tax book, this is the rate that was used to calculate the depreciation amount.
Period Start Date Internal use only.
Status Status of the depreciation schedule. The status can be:
  • Pending - no action has been taken in the accounting system
  • Exported - the journal for the depreciation schedule has been created in the accounting system.
  • Terminated - the asset associated with the depreciation schedule has been canceled or disposed of.
Tax Amount Tax amount applied to the depreciation schedule.
Units of Production (Actual) Contains the actual units of production for the depreciation schedule.
Units of Production (Estimated) Contains the estimated units of production for the depreciation schedule.