Own Calculation (Method OC)

If you have assets that need special calculations not provided by the standard methods (such as units of production) or any custom method you set up, method OC gives you the flexibility to enter manually calculated amounts. The system does not calculate depreciation for any asset using method OC. In Asset Detail, enter the depreciation amounts in the beginning depreciation fields. After you calculate depreciation (by executing the Depreciate command from the Depreciate menu), the amounts you entered will also appear in reports.

You must update the Beginning Depreciation fields before you perform a Period Close. Every time you make a change to the Beginning Depreciation fields, the system resets the Period Close fields to zero. (Thus, if you performed the Period Close first, you would lose the Period Close information when you changed the Beginning Depreciation information.)

The application cannot check whether any amounts you enter using this code are correct. As the asset depreciates, you must update the depreciation amounts yourself by entering new figures in the beginning depreciation fields.