Depreciation Accounting

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Depreciation

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The accounting procedure will update the fixed asset records (by adding the Posted flag and consequently updating the value of the depreciation fund and the net book value) and will register the related depreciation movements in accounting.

In order for the procedure to be successful, the following must be met:

• General Ledger Parameters for the reference year must have been created;

• Fixed Assets Parameters must have been created;

• In the Fixed Asset Categories table, accounts related to the depreciation quota and depreciation fund must be defined (for each category);

• The ledger template you wish to use for depreciation accounting must be defined.