Assets and depreciation

The Assets and Depreciation feature page brings the register, category valuation and charged depreciation together with asset event history and per-asset book schedules. Begin with a declared Book or Tax basis. A value is meaningful only when the reader knows which book, entity and period produced it.

Accountant maintains the asset identity and its book details, including cost, residual value and depreciation method. The register tracks in-service, impairment and disposal state. Asset events preserve capitalizations, transfers and other changes, while depreciation run lines retain the amount charged for each asset and the value after that charge.

• Asset identity. The register retains acquisition and in-service dates, category, custodian and source bill. The asset book adds its valuation basis and method so the financial reader can interpret the carrying value.
• Period calculation. Depreciation runs identify the entity, accounting period and book. Per-asset lines retain period depreciation, accumulated depreciation after the run and the resulting net book value.
• Event history. Capitalization, impairment, disposal and transfer events keep their approval and journal links. A financial change can therefore be traced to the asset book and the decision supporting it.

Agree asset categories and the Book or Tax basis the team will use for each review. Confirm the in-service date, useful life, residual value and method against the finance policy. Decide who reviews a changed book parameter and how its effective version is retained before calculating another period.

Reconcile opening cost, accumulated depreciation and impairment before starting regular charges. Identify the source bill where available and assign the responsible custodian. Decide which Finance Manager approves asset events and how transfer counterparts are reviewed. The chosen method and category defaults require the customer’s accounting judgment; a displayed method name does not settle that policy decision.

Use a production asset with an agreed in-service date and opening balance. Accountant reviews its Book valuation, calculates the period’s depreciation and inspects the per-asset line before posting. Finance Manager compares the result with the approved method and the period’s close evidence. The calculated run must remain distinguishable from depreciation actually charged through a posted run.

Open the same asset on its Tax basis and confirm that the reader can identify the different book. Do not combine those values into a single asset total. Then rehearse an impairment event: retain the affected book, amount, approval decision and resulting journal before treating the new value as posted.

Finally, inspect a disposal or transfer example and follow its event history. The historical charges should remain explainable after the asset changes state. Accountant can then attach the reconciled asset result to the period-close task while Finance Manager reviews the resulting carrying value and any outstanding correction.

• Asset Register — Asset identity, category and carrying amounts for assets still in service or under review.
• Depreciation Review — Draft and calculated runs waiting for review of their period and book basis.
• Assets and Depreciation — Book-based asset valuation, posted charges and event history in the dedicated feature page.

Rehearse Asset charges and period close and connect the result to Finance and close.