Fixed Asset Creation and Depreciation
The complete flow from asset card and service date to depreciation voucher.
Learning objective
Create correct asset cards and post reconcilable depreciation.
03
Steps
01Confirm asset class, department, cost centre and depreciation accounts.
02Enter cost, residual value, in-service date and useful life on the asset card.
03Select the depreciation method and verify first-month policy.
04Run a depreciation preview and review suspended or exceptional assets.
05Post depreciation, create the voucher and reconcile with the GL.
- 01
Confirm asset class, department, cost centre and depreciation accounts.
- 02
Enter cost, residual value, in-service date and useful life on the asset card.
- 03
Select the depreciation method and verify first-month policy.
- 04
Run a depreciation preview and review suspended or exceptional assets.
- 05
Post depreciation, create the voucher and reconcile with the GL.
04
Implementation notes
- The in-service date drives first-period depreciation.
- Confirm cost-centre rules before asset transfer.
- Keep approvals for retirement and disposal.