Depreciation Tab

Depreciation information for the asset is entered at the Depreciation tab.

Required Feature

In order to view this tab, the role of the logged-in user must include the Depreciation feature.

Depreciation Information

Entering depreciation information is optional; however, if you want to calculate depreciation information for the asset, you must assign depreciation information at this tab. For more information about depreciation calculation options in IntelliTrack (see "Calculating Depreciation").

Click the Depreciation tab to bring this portion of the form to the front.

• Depreciation Class: entered by the system. It is the depreciation class associated with the asset-type item (see "Depreciation Classes").
• Depreciation Method: entered by the system. It is defined in the depreciation class (see "Depreciation Methods").
• Life: entered by the system. It is the usable life of the asset. It is defined in the depreciation class.
• Partial Month Convention: automatically entered by the system; this is a division-level depreciation setting. The convention used determines the number of months for which depreciation can be claimed in the year property is placed in service and in the year the property is disposed of.
• Fiscal Year Ends: entered by the system; this is a division-level setting for depreciation. Refers to the end of the accounting year.
• Purchase Date: entered by the system; this is the purchase date entered for this asset in the Warranty tab.
• Purchase Cost: entered by the system; this is the purchase cost entered for this asset in the Warranty tab.
• In Service Date: the date the asset is placed into service. Click the drop-down arrow and select the date the asset was placed into service from the calendar control that appears. This is the beginning date for asset depreciation.
• Salvage Value: the salvage value of the asset. Enter the salvage value of the asset in this field. Asset depreciation will end when the salvage value is reached.
• Calculate icon: Press this icon to calculate asset depreciation and display the Depreciation Through amount, Total Depreciation amount, Current Depreciation amount, and Asset Value.
• Depreciation Through: after depreciation is calculated, the depreciation through date is entered by the system. It is based on the partial month convention for the division.
• Total Depreciation: the total depreciation of the asset is automatically entered by the system after depreciation is calculated. It is based on the asset in-service date, the partial month convention, depreciation method, and current date.
• Current Depreciation: the current depreciation of the asset is automatically entered by the system after depreciation is calculated. It is the depreciation amount to the date that asset depreciation was calculated.
• Asset Value: value of the asset at the end of the current fiscal year. It is entered in the system after depreciation is calculated.

Additional Depreciation Information

In order to calculate the depreciation for the asset, you must also enter the asset’s:

• Purchase Date: entered in the Assets form\Warranty tab
• Purchase Cost: entered in the Assets form\Warranty tab