In addition to the Down Value Method and Straight Line Method default Depreciation formula (see: Configuring Depreciation Formula), you can also configure Custom Depreciation formula as per the organization's requirements.
To configure Custom Depreciation formula:
Select Asset > Configuration > Depreciation > Depreciation Formula.
On the DEPRECIATION FORMULA page, click ADD NEW on the ACTIONS panel.
On the DEPRECIATION FORMULA page, fill in the new Depreciation details. For more information about the fields on the DEPRECIATION FORMULA page, see Field Description.
Click SUBMIT. A new Depreciation formula is configured.
Figure: DEPRECIATION FORMULA page
Field Description
The following table describes the fields on the DEPRECIATION FORMULA page:
Field | Description |
|---|---|
DETAILS | |
Depreciation Method | Displays the selected Depreciation Method. |
Formula | Displays the formula for the selected method. |
Type | Lists the types of Depreciation supported in the application. Select the Depreciation type from the list. |
Default Formula | Select this check box to set the selected Depreciation formula as the default formula. |
Active | Indicates the status set for a Depreciation formula.
|
DEPRECIATION DETAILS | |
Name | Displays the name of the Asset attribute. |
Description | Displays the mandatory elements that are required to calculate the Depreciation value for an Asset. |
Type | Displays the description text for the mandatory value. |
Value | Displays values for the mandatory elements. |
Active | Indicates the status set for a formula. If selected, the Depreciation method is active. |
ACTIONS
This section explains all the icons displayed on the ACTIONS panel of the DEPRECIATION FORMULA page.
SHOW LIST
Click SHOW LIST to display the LIST table showing the Depreciation methods.
Figure: DEPRECIATION page: List of depreciation methods
- To update a Depreciation value, click the configured Depreciation Method. Make appropriate changes and click SUBMIT.
To display the inactive Depreciation values, click the Include Inactive check box.
Note:
When the Depreciation values are displayed under the LIST table, the ADD NEW action is displayed on the ACTIONS panel. Click ADD NEW to configure a Custom Depreciation Method.