Overview:
PENTA's Fixed Asset module can automatically calculate depreciation on one or more than one depreciation base. The depreciation base that is setup as the 'Book Method', PENTA will also automatically post depreciation accounting entries to the general ledger. You may only setup one depreciation base as the 'Book Method'. This window allows you to setup and define all depreciation bases that you would like PENTA to track and calculate. In the Fixed Asset Class or Asset Information window, depreciation rules can be defined for each depreciation base.
Examples:
- Book Method
- Federal Tax Method
- State Tax Method
Benefits:
- Ability to user define multiple depreciation bases for PENTA to track
- Flagging a depreciation base as 'Book' tells PENTA to automatically book all depreciation accounting entries
Roles:
- Accounting Manager
- CFO
Additional Content
- N/A
Location:
- Fixed Asset Management > Setup > Depreciation Bases
Video: