Running depreciation
Once a month, run depreciation: Fiscal calculates the charge for every running asset in your branches and posts it in one journal.
Open Fixed Assets›Run Depreciation, or click Run Depreciation in the register.
Run it
- Choose the Month to post, usually the month that just ended, and add a Note if you like.
- Click Preview. Each asset is listed with its category, branch, the period and number of months, the depreciation and the book value after.
- Check the total and post.
Fiscal posts every running asset's depreciation up to the end of that month, including earlier months that weren't posted yet (the preview tells you when). One journal is posted: Dr Depreciation Expense / Cr Accumulated Depreciation. An asset that reaches its residual value becomes Fully Depreciated.
See the journal
The Posted runs list shows every run with its month, number of assets, amount and who posted it. Click Journal on a run to see the journal it posted.
On an asset, the depreciation schedule has a journal icon on each posted month. It opens on that asset's share of the run (Dr its depreciation expense / Cr its accumulated depreciation, for everything the run posted for it); click Show all for the whole run's journal and This asset only to go back.
Undo a run
Only the latest run can be undone: click Undo on it, correct what was wrong, and run it again.
Run depreciation before you close the month and the books (see Closing the books).