Set up depreciation books

This procedure walks through the process of creating a new depreciation book and associate it with a fixed asset group.

Create a depreciation book

1. Go to Fixed assets > Setup > Depreciation books.
2. Click New.
3. In the Depreciation book field, type a value.
4. In the Description field, type a value.
5. Select or clear the Calculate depreciation checkbox.
6. In the Depreciation profile field, click the drop-down button to open the lookup.
7. In the list, find and select the desired depreciation profile.
8. In the list, click the link in the selected row.
9. In the Alternative depreciation profile field, click the drop-down button to open the lookup.
10. In the list, select the desired depreciation profile.
11. In the list, click the link in the selected row.
    • The Extraordinary depreciation profile is used for additional depreciation of an asset in unusual circumstances. For example, you might use this to record depreciation that results from a natural disaster.
12. Select or clear the Create depreciation adjustments with basis adjustments checkbox.
13. In the Calendar field, click the drop-down button to open the lookup.
14. In the list, click the link in the selected row.

Associate the depreciation book with a fixed asset group

1. Click Fixed asset groups.
2. In the Fixed asset group field, click the drop-down button to open the lookup.
3. In the list, find and select the desired record.
4. In the list, click the link in the selected row.
5. In the Depreciation convention field, select an option.
6. In the Service life field, enter a number.
   • Note the Depreciation periods field value is calculated after setting the Service life.