Page 30 - Participant Guide ebook - Unanet GovCon Using General Ledger

DEPRECIATION INFORMATION:
• *Status - associated with the Fixed Asset Setup Statuses
• *Placed In Service Date - defaults to the Acquisition Date. This is the start of its
useful life
• *Useful Life (Months) - defaults from the Fixed Asset Setup Classes page, if
provided. It is the number of months that an asset is expected to be in use. This
field is used in determining the time period over which the asset will recover its
depreciable basis.
• *Depreciation Start Date - defaults to the Placed In Service Date. It is the date
from which to begin depreciating an asset in Unanet.
• Prior Depreciation Balance - if applicable, this is the depreciation balance from a
previous system and can be positive or negative. If populated, the system
calculates depreciation from this amount forward.
• Salvage Value - if applicable, an estimate of the asset's worth at the end of its
useful life. If you update this to a new value later, the Depreciation Schedule will
be updated to reflect the new value.
• Depreciation Method - defaults to Straight Line. This determines the rules for
calculating depreciation. (other option is None)
• Depreciation Averaging Method - defaults to Fiscal Period. It defines how annual
depreciation is spread across fiscal periods. (other option is Daily)

LOCATIONS:
• Location - if applicable, choose from any active location in the system and
specify a Start Date for when the asset was moved to the location.

GL INFORMATION:
• Asset Org - the organization where the cost of the asset will be recorded in the
General Ledger.
• Expense Org - the organization where the depreciation expenses for the asset
will be recorded in the General Ledger.

User Defined Fields (UDF) - if applicable, the Fixed Asset UDFs that are active and
enabled will be included in this section.

Depreciation Schedule Tab
Used to display the asset’s depreciation schedule, current Net Value, and which
depreciation transactions have been posted to the General Ledger (GL). If a fixed asset
is fully depreciated and has not yet been disposed (i.e., useful life = 0), the depreciation
schedule will be empty.

Note: The Fiscal Year configuration must be created as far out in the future as needed
to capture the years of useful life for a Fixed Asset’s depreciation schedule.

LESSON 4 FIXED ASSETS
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