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Content of the Manage Depreciation Expense Acct Allocation Codes Screen

Use the fields and options to configure the Manage Depreciation Expense Acct Allocation Codes screen.

A depreciation expense account allocation code is system-required in an Asset Master record (and in an Asset Template record if you use this optional feature) for depreciable records. The system will validate your depreciation expense account allocation code entry in master records against data from this screen.

An additional feature associated with depreciation expense account allocation codes is the ability to allocate depreciation expense for a single property record to one or more depreciation expense accounts on a percentage basis.

The depreciation expense account allocation codes established on this screen point to the G/L account, organization, project, reference 1, and reference 2 combination(s) to which depreciation expense should be charged when depreciation entries are posted.

Depreciation expense accounts and organizations (and optionally projects and reference numbers) normally store the debit side of the entry, under normal circumstances, when positive depreciation expense is posted. At the end of each fiscal year, depreciation expense is merged with the other revenue and expense accounts into retained earnings and is zeroed out.

This screen consists of a primary identification block and a table window block, as follows:

  • Use the primary block to enter or view the depreciation expense account allocation code, its description, and the cumulative and remaining percentages allocated to account/organizations/project/reference 1/reference 2 combination(s) in the table window.
  • Use the Table Window to specify the account/organizations/project/reference 1/reference 2 combination(s) to which depreciation expense should be posted and their respective percentage allocations.

You should set up depreciation expense account allocation code data on this screen as one of the first steps in the initialization process, before you begin to add data in an Asset Master or Asset Template record.

Although you can add to, delete from, or change the information on this screen (within the system rules) at any time, use caution in the timing of your edits, which may affect your posting entries as well as the types of records included in system reports.

Note: The data on this screen is company-specific and will be available for use only by your company of login. If you have set up multiple companies in Costpoint, you can enter, view or use data on this screen for each company only by using the separate company login.

When you save this screen, the system performs different types of row validations, depending on the fields used to identify the depreciation expense account allocation code. The documentation for each column contains specific information about the types of validations. If any rows fail the validation, Costpoint displays a message.

Note: If a depreciation expense account allocation code from this screen is currently in use (that is, it has been assigned in either an Asset Master record or an Asset Template record), you cannot delete that code from this screen. If you want to delete it, you must assign a different code in the applicable records (either manually or by using the Manage Asset Master Global Changes function). When the depreciation expense account allocation code is no longer in use, you can delete it from this screen.

Identification

Use the fields in this block to enter or view the depreciation expense account allocation code, its description, and the cumulative and remaining percentages used for the allocations in the Table Window.

Field Description
Code

For a new code, enter a depreciation expense account allocation code.

For an existing code, use Query to select the desired code.

The codes that you establish for use with your depreciable asset records should be specific to your company requirements. You may find that user-friendly codes that are easy to remember and recognize relative to the charging combination(s) will work best.

There is no virtual limit to the number of depreciation expense account allocation codes that can be set up on this screen. You may set up codes of different lengths (up to a maximum of six characters), and there can be a mix of alphabetic, numeric, and/or combinations in your code definitions.

Description

For a new code, enter the description for the depreciation expense account allocation code.

Although only a single character entered in this field fulfills the system requirement for a description, you will find it more beneficial to supply a meaningful description, since your entry will display when using Lookup on depreciation expense account allocation codes and in reports that use this field.

Cumulative Percentage

In new code record entry mode, the system automatically calculates and displays the cumulative total of all the percentages entered for each account, organization, project, reference 1, and reference 2 number combination in the Table Window for the depreciation expense account allocation code in the header of the screen in this non-editable field.

Because depreciation expense must be fully allocated to account, organization, project, reference 1, and reference 2 number combinations, you will not be able to save the data for this allocation code if the cumulative percentage does not equal "100.00%". As a result, this field will always display "100.00%" for existing depreciation expense account allocation codes.

Remaining Percentage

In new code record entry mode, the system automatically calculates and displays the percentage in this non-editable field by adding all values in the Percentage field from the Table Window and subtracting this cumulative percentage from 100.00%.

Because depreciation expense must be fully allocated to account, organization, project, reference 1, and reference 2 number combinations, you will not be able to save the data for this allocation code unless "0.00%" displays in this field.

Table Window

Use the fields in this block to specify the account/organization/project/reference 1/reference 2 combination(s) and percentage(s) to use when allocating depreciation expense for a depreciation expense account allocation code.

There are no system rules regarding the types of account/organization/project/reference 1/reference 2 combination(s) that can be set up for a depreciation expense account allocation code, although depreciation expense account allocation codes are most frequently assigned to expense account combinations. At the end of each fiscal year, depreciation expense is normally merged with the other revenue and expense accounts into retained earnings and is zeroed out. Accumulated depreciation account codes are most frequently assigned as offsets to balance sheet account combinations.

Field Description
Account

Enter, or click to select, an account to link with the depreciation expense account allocation code.

Upon validation, the system will verify that the account is a detail account and that it is active. When you complete your Account/Organization/Project/Reference 1/Reference 2 combination entry, as applicable, the system will validate that the account is valid for the organization, and if project-required, also valid for the project.

Organization

Enter, or click to select, an organization to link with the depreciation expense account allocation code.

Upon validation, the system will verify that the organization is active. When you complete your Account/Organization/Project/Reference 1/Reference 2 combination entry, as applicable, the system will validate that the account is valid for the organization, and that the organization is also valid for the project.

Project

Enter, or click to select, a project to link with the depreciation expense account allocation code, as applicable, in this optional field.

Upon validation, the system will verify that the project is valid and active. When you complete your Account/Organization/Project/Reference 1/Reference 2 combination entry, as applicable, the system may perform additional validations regarding the account/organization/project relationship.

Percentage

You may choose to allocate depreciation expense for a single property record to multiple account/organization/project/reference 1/reference 2 combinations or to a single combination.

For multiple account/organization/project/reference 1/reference 2 combinations, enter a percentage in this field that is greater than zero and equal to or less than 100.00%. Entry to two decimal places is permitted in this column.

If you routinely charge depreciation expense for a single property record to a single depreciation expense account/organization/project/reference 1/reference 2 combination, you should set up separate depreciation expense account allocation codes for each different combination and enter "100.00%" in this field for each depreciation expense account allocation code.

When a depreciation expense account allocation code from this screen is assigned to a depreciable property record, the percentage in this field determines the percentage of the total current period depreciation expense that will be posted to the account/organization/project/reference 1/reference 2 combination entered for this row.

Because depreciation expense must be fully allocated to account, organization, project, reference 1, and reference 2 number combinations, you will not be able to save the data for this allocation code if the Cumulative Percentage in the field above the Table Window does not equal "100.00%".

Account Name

The system automatically displays the account name that was set up for the selected Account in this field.

The data in this field can only be edited on the Manage Accounts screen.

Organization Name

The system automatically displays the organization name that was set up for the selected Organization in this field.

The data in this field can only be edited on the Manage Organization Elements screen.

Project Name

The system automatically displays the project name, as applicable, that was set up for the selected Project in this field.

The data in this field can only be edited on the Manage Project User Flow screen.

AC 1

Enter, or click to select, a Reference 1 number to link with the depreciation expense account allocation code, as applicable, in this optional field.

If you designated a different label for Reference 1 on the Configure General Ledger Settings screen, your label displays as the label for this field. For example, the label may be AC 1.

Upon validation, the system will verify that the Reference 1 number is valid.

AC 2

Enter, or click to select, a Reference 2 number to link with the depreciation expense account allocation code, as applicable, in this optional field.

If you designated a different label for Reference 2 on the Configure General Ledger Settings screen, your label displays as the label for this field. For example, the label may be AC 2.

Upon validation, the system will verify that the Reference 2 number is valid.