Defining a book

A book is a ledger of assets that defines parameters for calculating and reporting depreciation. You must define at least one book in the Asset Management application. This procedure outlines the process for defining books.

Define a book

  1. Access Books (AM00.2) or Book (AM00.1).
  2. Define the depreciation book. Specify this information:
    Book

    You must specify a book ID.

    Description

    You must specify a book name or description.

    Cur (Currency)

    You must specify the currency code for the book. The book will record all depreciation amounts in the currency you select. This field is required.

    Status

    Select whether the status of this book is Active or Inactive. Active is the default. When the status of a book is Inactive, you cannot assign it to any new asset.

    Conv (Convention)

    Use this field to select a default depreciation convention code for the book. The convention code determines how depreciation is calculated for the first and last year an asset is in service.

    Method Switch

    Specify or select Y (Yes) in this field if you want the Asset Management application to automatically switch to a second depreciation method when it is advantageous to do so.

    Details on the Lawson predefined depreciation methods and on the method switching process are found elsewhere in this user guide. Depreciation calculation methods Method switching and how it affects depreciation calculation methods

    Depr Hist (Depreciation History)

    Specify or select Y (Yes) in this field to store previous year and period depreciation history for the book. The default is N (No).

    Note: Depreciation history is collected only from the time this field is set to Y (Yes). There is no way to rebuild previous depreciation history records.
  3. If the book you want to define is a Part 32 book (used to track class-level assets), use the Depreciation Level tab for the book to define the class-level information.

    Specify this information:

    Type

    Select C (Class Level) in this field to denote that assets associated with this book are to be depreciated along with other assets in their class rather than as individual assets. This option is required for Part 32 books.

    The default depreciation type is A (Asset Level).

    Compute

    Select the compute statement to be used in calculating depreciation for the class of assets. The compute statement must be defined using Compute Statement (RW50.1). Defining a compute statement for a Part 32 book

Related topics