Accounting Finance:Depreciation-Create an Update Proposal for Asset Depreciation

Overview

There are two types of depreciation proposals.
They are work proposal and Update proposal.
A work proposal can be created for a selection of assets, whereas an update proposal must include them all.
Proposals with errors can never be updated, the errors must be corrected and you have to create a new proposal.
Depreciation calculations are based on the depreciation rules and their connected modules.
If asset balance accounts are changed during the life of an asset, the system will automatically create balance movements in the following depreciation run. The system will give a warning that such balance movements will be performed.

You must run the update proposal for all assets; you cannot select certain assets as you can do for the work proposal.
All assets on an update proposal are frozen. You cannot work with these assets until you update depreciation or delete the update proposal.
You are not permitted to update depreciation if any entries on the proposal contain accounting rule errors or accounting errors.
An update proposal containing errors must be deleted and rerun. Once there are no errors, you can update depreciation.

Click Asset Management→Asset management financial tasks→Depreciation tasks→Work with depreciations.
Click Add (left side blue panel)

Enter Description
Enter Depreciation period
Change Work proposal N (the default for NO signifies that this will be an update proposal. YES signifies a work proposal to simulate Depreciation for selected assets before updating)
Change Print control list Y
Press enter