Restate Asset Book Depreciation (tffam1216m000)

Use this session to restate or recalculate depreciation that occurred in a prior period for one or more of an asset's related books. Instead of restating depreciation for all of an asset's related books simultaneously, you specify the book or books for which you want to recalculate depreciation.

Before you restate or recalculate depreciation, you must open all the periods. LN calculates the new depreciation amount for each period and adjusts any previous depreciation transactions so that the depreciation transactions for each period sum to the new depreciation amount. In case of a posting to a period prior to the current(see the Current Period field in the FAM Parameters (tffam0100s000) session), LN posts to the current period. Depreciation transactions are posted to any period, including future periods unless a calendar for that period does not exist.

LN creates new journals from the restatements that affect the default book in the General Ledger module. The next time you create journals, LN sends the recalculated journals to the General Ledger module. LN will net the difference between depreciation reversed and depreciation recalculated by comparing the new value to the existing value. The difference is recorded as the entry posted to the General Ledger module.

LN will locate the effective date of the transaction, and reverses and restates to this date. Otherwise, if the effective date cannot be located, LN reverses from the in-service date.

If any of the selected assets contain a life in units in any of the assets' books, you must first run Record Asset Units Used (tffam1145s000). When computing depreciation, LN calculates and compares the new value to the existing value. The difference is recorded as the depreciation transaction for that period.

Field Information

Year / Period: Year range through which depreciation will be restated.
/: Period range through which depreciation will be restated.
Suppress Journal Entries: If this check box is selected, journal entries are not created in the General Ledger module for this transaction.
Print Error Report: If this check box is selected, an error report is printed.