U04 End of Period
U0443 Depreciation
| EOP Only | Yes |
| Frequency | Monthly |
| Sequential Updates | Yes |
| Skip Notes | Skipping will impact reported depreciation values for the affected month end, but will catch up the next month it is run |
For more information about End of Period,
refer to U04 End of Period Overview.
Sequential Updates: This EOP module runs as part of U0411 Sequential Updates.
Depreciation: For more information about depreciation methods and calculations, refer to the Depreciation overview.
Information on Supplemental Depreciation has moved to Depreciation→Supplemental Depreciation.
This module calculates and stores current federal, state, and book depreciation for all active assets. If the asset is part of an operating lease, a General Ledger transaction is performed for the book depreciation.
For OPER assets: LeasePak will populate the ASSET number field in the rtx Monthly Transaction table when Depreciation Accrual is run in End of Period. When the asset is on lease, the lease number will be included in RTX table, along with the Portfolio, Company, Region, Office key structure. If the asset is off lease, only the Portfolio, Company, Region, Office key structure will be populated.
For OPER assets: LeasePak will populate the ASSET number field in the rtx Monthly Transaction table when Depreciation Accrual is run in End of Period. When the asset is on lease, the lease number will be included in RTX table, along with the Portfolio, Company, Region, Office key structure. If the asset is off lease, only the Portfolio, Company, Region, Office key structure will be populated.
Prorate Depreciation: LeasePak will pro-rate the book depreciation if:
- The asset's portfolio switches Prorate Income IDC/IDR and Prorate Depreciation are both set to 'Y' in U0212 Portfolio→Miscellaneous Customizations.
- The asset's portfolio switch Change Depreciation at Term is set to 'N' in U0212 Portfolio→Miscellaneous Customizations.
- The book depreciation methods are SLxx or ZXxx.
- The asset is not a 'Leveraged Lease' asset.
| Debit | Credit | ||
| 113 | DEPRECIATION EXPENSE | 75 | DEFERRED DEPRECIATION EXPENSE |
Reference Guide |
Table of Contents
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The information contained in this document is the sole property of NETSOL Technologies, Inc. Use of the information contained herein is restricted. Conditions of use are subject to change without notice. NETSOL Technologies, Inc. assumes no liability for any inaccuracy that may appear in this document nor does it have the obligation to update any of the information contained herein; the contents of this document do not constitute a promise or warranty. The software described in this document is furnished under license and may be used or copied only in accordance with the terms of said license. Unauthorized use, alteration, or reproduction of this document without the written consent of NETSOL Technologies, Inc. is prohibited.