To assist you when you enter the correct data in the Current Depr Yr and Days/Pds Remaining fields in your Asset Master records, you can use this utility to verify the relationship of the Depr Start Date field to the Current Depr Yr and Days/Pds Remaining fields.

This utility should be especially helpful when you are initializing historical data. Data entry in the Current Depr Yr and Days/Pds Remaining fields in Asset Master records is particularly prone to error due to misinterpretation of the system "rules" for this field and/or because of missing/inadequate historical data. The relationship of initialization data in the Current Depr Yr, Days/Pds Remaining, and Depr Start Date fields is critical to the accurate calculation of depreciation (as is the data in the Amt Taken Purch YTD field for users whose depreciation methods employ a Date of Purchase basis).

The Compute/Update Depreciation Computation Data utility produces a report based on the depreciation start date and the Fixed Assets years and periods set up on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens. The system first prints a side-by-side comparison of both the current values displayed in the Asset Master and the values that the system computed for the Current Depr Yr and Days/Pds Remaining fields, by book. Once the report has printed, you will then have the option to update the data.

If you choose to update data using this utility, selecting the Update Asset Master Records (using the gears icon) activates the "Update" portion of the utility that applies the system-computed values to the Asset Master records. This process updates the existing data in the Current Depr Yr and Days/Pds Remaining fields by replacing the existing Asset Master data with system-computed values.

For new Asset Master records, the system will automatically compute the values in the Current Depr Yr and Days/Pds Remaining fields (provided you have not entered data in these fields) when depreciation is computed for the first time, based on the date in the Depr Start Date field.

For additional information, please refer to the specific documentation for the Depr Start Date, Current Depr Yr, and Days/Pds Remaining fields for the G/L Book Info tab of the Manage Asset Master Information screen.

The Update process is similar to posting routines in that you must first print the report before you can update. Never run the Update process as a matter of routine unless you agree with the system field changes that will take place for each Asset Master record.