About the Depreciation Schedule

The depreciation schedule for an asset is displayed on the Schedule tab of the EM Asset Setup form.

It is generally used after the schedule has been calculated to override calculated amounts or when first coming on-line with existing assets where you need to enter to-date depreciation amounts. Any amount you enter in this form’s Amount Taken will NOT be posted to GL. If you need prior depreciation amounts posted to GL, you must maintain the change here and post an adjusting entry in EM Cost Adjustments.

Calculate the Depreciation Schedule

The EM Asset Setup form will automatically calculate a depreciation schedule for an asset after you have set up the asset’s parameters (depreciation method, asset life, etc.) on the Info tab and clicked the Calculate button. This calculation determines the amount to take on a month-by-month basis for the asset.

A schedule must be calculated before you can use the EM Depreciation Processing form to post depreciation costs to GL. When processing depreciation, the Amount Taken column is updated for the specified month(s), along with the total amount taken-to-date and the remaining amount to take (shown in the Taken and Balance fields above the grid).

Recalculating the Schedule

You must recalculate the schedule any time you make changes to an asset that would cause the existing calculated schedule to be outdated (such as changing the depreciation method or disposing of the asset). To recalculate, make the necessary changes on the Info tab of EM Asset Setup and click Calculate. If you are using the Straight Line method or the Diminishing Value method (Australia only), the schedule is recalculated based on the new information. If you are using the Declining Balance method (US & Canada only), the screen displays the following message:

Once you click OK, the Recalculation for Year Ending field appears in the upper section of form (below the Asset number). Specify the year-end month of the fiscal year with which to begin recalculation, and click Calculate again. The schedule will be recalculated beginning with the first month of the fiscal year you specified, replacing all existing Amount to Take values with recalculated ones.

When you recalculate a schedule, recalculate only the remaining months of the asset; do not recalculate any of the prior months that have already been fully depreciated. Recalculating prior months will cause the Amount to Take values to be recalculated, which may result in changes to the original values. Although this will not affect any costs already posted to GL, it would mean the Amount to Take and the Amount Taken values displayed for those prior months will no longer balance with each other. If this happens, you will need to correct the Amount Taken values manually to bring them back into balance.

Note: Recalculating a schedule after disposing of an asset does not recalculate the Amount to Take values. The system will only truncate the schedule, removing all months remaining after the specified disposal month.