EM Asset Setup

EM Asset Setup configures depreciation for equipment assets (typically straight-line) before you process depreciation.

Before you start

• The equipment exists in EM Equipment.
• Have purchase price, residual value, first depreciation month, months to depreciate, and accumulated depreciation to date.
• Know the depreciation expense and asset GL accounts.

Steps

1. Open EM Asset Setup.
2. Select the equipment.
3. Enter purchase price and residual value.
4. Set the first depreciation month and number of months.
5. Enter accumulated depreciation to date.
6. Enter the depreciation expense account and asset GL accounts.
7. Review the generated straight-line schedule.
8. Save.

Notes

• Have accounting review changes—schedule updates affect financial statements.