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- Fixed Asset Management
- Features
- Books and depreciation
Books and depreciation
Review depreciation by asset, accounting book and period. A machine may have one financial book and a different tax book. The two books can use different bases, methods and timing while referring to the same physical asset. A tax allowance does not reduce the financial carrying value unless the configured financial policy independently requires that accounting effect.
OverviewPending Depreciation Approvals×
Fixed Asset Management · Books and depreciation
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Pending Depreciation Approvals
Depreciation runs
| Run number | Book | Period | Total amount | Calculated by | Status | |
|---|---|---|---|---|---|---|
| DR-84049 | Book | September 2026 | 460 | Hassan Ali | Reviewed | |
| DR-44174 | Tax-Federal | August 2026 | 690 | Elena Costa | Reviewed | |
| DR-95136 | Tax-State | July 2026 | 750 | Elena Costa | Reviewed | |
| DR-43572 | IFRS | Q3 2026 | 110 | Rina Shah | Reviewed | |
| DR-85057 | Book | June 2026 | 800 | Maya Chen | Reviewed |
6 of 6 records
September 2026Depreciation runs · DR-84049
BookTotal amount460
Calculated byHassan Ali
StatusReviewed
What you can do
Keep the business context together
An asset can carry distinct financial and tax books with their own basis, useful life, method and convention. Period schedules preserve the beginning accumulated amount, proposed charge and ending carrying value. Review forecasts separately from posted history and keep the applicable entity and rule version attached to each calculation.
For a straightforward monthly calculation, the schedule starts with the approved basis, residual amount, useful life and in-service date. The proposed period charge and ending carrying amount remain reviewable before posting. A calculation must respect the remaining depreciable amount instead of producing a negative carrying value after the asset reaches its residual limit.
Give each decision a clear owner
Fixed Asset Accountant calculates and reviews a run. Controller / CFO approves financial-book work prepared by another person. Tax Accountant reviews tax-book work under the same independence rule. Only the designated financial book sends a journal proposal to the connected general ledger.
Preparing a run creates a proposal for a defined book and period. It must not immediately increase posted accumulated depreciation. The reviewer can investigate excluded assets, changed inputs and disposal timing before approval. Recalculating a draft preserves its relationship to the previous proposal so the accountant can explain why the charge changed.
Handle exceptions with the original record
A calculation must honor in-service dates, residual values, prior posted charges and disposal timing. A retried run cannot create another charge for the same asset, book and period. Do not mark financial schedules posted until the accounting system confirms the exact journal’s posted outcome.
The financial book sends the approved journal proposal to the connected accounting system. Request acceptance is only a delivery result. Mark the financial run posted when the exact journal is confirmed posted, then update the corresponding book history once. An uncertain external result stays available for reconciliation with the original request reference.
Find the work that needs attention
Use the run queue and approval inbox to compare current proposals with prior posted periods. A duplicate or concurrent run cannot charge the same asset and book for the same period twice. An asset disposed of during the period needs its permitted final depreciation treatment, coordinated with the disposal so the carrying basis remains consistent.
Configure it around your business
Configure book definitions, posting mappings, conventions and tax-rule versions before routine runs. Review an asset placed in service mid-period, an asset approaching residual value and a period with a disposal. Reconcile the resulting schedules to the asset roll-forward and confirmed ledger journal rather than accepting a successful calculation as evidence of completed posting.
What your team sees
- Open Depreciation Runs — Review the work and supporting records for this module.
What it keeps track of
Data model- Asset books
- The per-asset depreciation book. Most US assets carry at least two:
Book(US GAAP, straight-line, posts to GL) andTax-Federal(IRS MACRS, does not post to GL). Multi-state operations addTax-State. International parents addIFRS. - Book schedules
- The per-period schedule grain — one row per asset book per period (month or fiscal period), stamped with that period’s depreciation amount, accumulated balance, and net book value. The row that the depreciation run reads and writes.
- Depreciation runs
- A periodic depreciation calc batch — one per Book per accounting period. The unit of work for the Fixed Asset Accountant: open draft, calculate, review variances, Controller approves, GL post (Book book only).
- Depreciation run items
- One row per asset book per depreciation run. The audit grain that ties an asset’s per-period charge back to the run that produced it.
- Asset categories
- The category catalog. Sets the default useful life, depreciation method, MACRS class, and GL account targets used when a new
FixedAssetsrow is capitalized under this category. - Tax rule sets
- Reviewed, effective-dated tax configuration and authoritative source evidence.
Who uses it
Permissions- Fixed Asset Accountant
- Fixed Asset Accountant works within the record, field and action scope below.
- Tax Accountant
- Tax Accountant works within the record, field and action scope below.
- Controller / CFO
- Controller / CFO works within the record, field and action scope below.
Set up Fixed Asset Management your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.