Reset Affecting Depreciation

How does the reset affect depreciation?

Resetting depreciation changes the values in the current depreciation fields (Current Through Date, Current Year-to-Date, and Current Accumulated). How these values are changed depends on which option you choose when you reset depreciation.

You have three options when you reset depreciation.

Placed-in-Service Date

Select this option button to reset depreciation to the asset's Placed-in-Service Date. Selecting this option resets all depreciation figures to zero (the amount of depreciation on the date the asset was placed in service). Select this option if critical depreciation values, such as the acquired value or depreciation method, were entered incorrectly. In this case, you need to reenter the beginning amounts and other values after resetting depreciation and before executing the Depreciate command.

Beginning Date

Select this option button to reset the current depreciation fields to the beginning date of the asset (if applicable). Selecting this option resets depreciation figures to the amounts entered in the asset's beginning depreciation fields. The amounts in the Period Close fields, if any, will be deleted. This is the default. Select this option when the beginning values are correct but the current or period close depreciation figures are not. After you reset to the beginning depreciation amounts, you can change asset data as needed and recalculate depreciation by executing the Depreciate command.

Note: If there is no date in the Beginning Date field, the system automatically resets the asset’s depreciation to the Placed-in-Service Date.

Period Close Date

Select this option button to reset depreciation back to the last period close date. Selecting this option resets the current depreciation figures to the amounts entered when the last period close was performed.

Note: If there is no date in the Period Close Date field, the system automatically resets the asset’s depreciation to the Beginning Date (if one exists). If there is no date in the Beginning Date field, the system resets the asset’s depreciation to the Placed-in-Service Date.