Depreciate Assets

Asset

Optional filter. Select a specific asset to depreciate only that asset. Leave blank to show all active assets.

Depreciation

Optional filter. Select a depreciation method to show only assets using that method (e.g. Straight Line, Declining Balance). Leave blank to show all methods.

Store

Store that owns the assets. Defaults to the current store. Changing the store clears the employee and refreshes the asset list. Required before posting.

Employee

Employee posting the depreciation entries. Defaults to the current user. Required before posting. Filtered to employees belonging to the selected store.

Post Date

The date for the journal entries. Depreciation is calculated from each asset's last depreciation date (or purchase date if never depreciated) through this date. Must be after the asset's last depreciation date. Required before posting.

Final Fiscal Depreciation?

Checkbox for fiscal year-end processing. When checked, each asset's Start Amount is set to its accumulated depreciation after posting. This establishes the new cost basis for Declining Balance calculations in the next fiscal year, preventing double-counting of prior-year depreciation.

Number — Asset number.
Name — Asset description.
Depreciation — Depreciation method assigned via the asset type (Straight Line, Declining Balance, Units of Production, or None).
Last Depreciation — Date of the most recent depreciation posting. Blank if never depreciated (purchase date is used instead).
Asset Cost — Original acquisition cost of the asset.
Accum Depreciation — Total depreciation posted to date. When this equals Asset Cost, the asset is fully depreciated and is skipped during processing.

Straight Line

Divides the asset cost evenly over its useful life. The daily rate is Cost ÷ (Life × 365), multiplied by the number of days since last depreciation. Produces consistent, equal depreciation amounts each period.

Declining Balance

Applies a double-declining rate to the remaining book value. The formula is (2 ÷ Life) × Start Amount × (Days ÷ 365). Produces larger depreciation in early years that decreases over time. The Start Amount resets when Final Fiscal Depreciation? is checked at year-end.

Units of Production

Requires manual calculation. If an asset uses this method, the system displays an error directing the user to calculate and post the depreciation manually via the General Journal.

None

Assets with no depreciation method are silently skipped during processing.

Select All Assets

Selects every asset in the list for batch depreciation.

Clear Select

Deselects all assets in the list.

Depreciate Assets

Processes depreciation for all selected assets. For each selected asset, the system:
1. Validates that a post date, store, and employee are set.
2. Calculates the depreciation amount based on the asset's method and the elapsed days.
3. Caps the amount so accumulated depreciation never exceeds the asset cost.
4. Absorbs any remaining balance under $0.50 to fully depreciate the asset (avoids leaving trivial residual values).
5. Creates a General Journal entry debiting the asset's Expense (Depreciation) account and crediting the Accumulated Depreciation account.
6. Updates the asset's accumulated depreciation and last depreciation date.
A confirmation dialog lists all journal entry numbers created.

Edit Asset

Opens the Asset Master for the selected asset. Double-clicking a row also opens it.

Refresh List

Reloads the asset list with current data from the database, applying any filter changes.