This procedure is used at year-end to transfer this year’s depreciation to accumulated depreciation. At the same time revised replacement cost and insured value are calculated.
All entries for the current year for fixed asset disposition, depreciation, sales, extraordinary depreciation and capital costs must be entered.
Start ‘Annual Run. Perform’ (FAS190/E).
Specify the year to be closed.
Specify whether the run should include depreciation.
Specify whether the run should include replacement cost.
Specify whether the run should include insured value.