Administrator Guide

Vision Helpdesk Depreciation Type Settings

Renu Sharma Apr-11th, 2019 18:05 0 0

Financial management

Financial management determines the costs of services and provides financial accounting support to make sure expenditures fall within approved budgets and that funds are well spent.

By default there are four DT(Depreciation Type):

DT-SL (Straight line): Straight line depreciation method charges cost evenly throughout the useful life of a fixed asset.

DT-DB (Declining balance): Declining balance refers to the asset's book value or carrying value at the beginning of the accounting period. Book value is an asset's cost minus its accumulated depreciation.

DT-DDB (Double declining balance): The double declining balance depreciation method is an accelerated depreciation method that counts twice as much of the asset's book value each year as an expense compared to straight-line depreciation.

DT-SOD (Sum of year’s digit): Sum of the years' digits depreciation method involves calculating depreciation based on the sum of the number of years in an asset's useful life.

Note: Default depreciation cannot be disabled or deletes.

Add depreciation type

Title: The title for the depreciation type should be specified here.

Display order: If there are many depreciation types that are available then sorting can be done from display order. Depreciation types get sorted as per the display order for the depreciation type specified.

Depreciation: Depreciation method that is to be used is to be selected from the drop-down.

Useful life (in years): The useful life in years should be mentioned here.

Description: A short description of the depreciation type is to be mentioned here.

Domain access: It consists of a domain that will have access to a particular depreciation type. More than one domain can be selected at a time. It is also possible to select all the domain using all domain option.

Status: The status of the depreciation type can be either enabled or disabled from here.


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