Depreciation Adjustment Report: Report Columns

These standard columns appear in the Depreciation Adjustment report and need no explanation:

System Number

Extension

Description (first ten characters)

[Placed] In-Service Date

Estimated Life (in years and months)

Depreciation Method

Beginning YTD Depreciation

Beginning Accumulated Depreciation

Key Code

The following guidelines provide detail on the nonstandard columns that appear on the Depreciation Adjustment report.

Creation Code

This column shows the asset’s creation code: O – Original Asset; D – Disposed Asset, etc.

Depreciable Basis

This column shows the asset's depreciable basis as calculated by the system.

Calculated Total Accumulated Depreciation

This column shows the amount the system calculated as the correct depreciation from the date you placed the asset in service through the date entered in Asset Detail as the beginning date. The beginning date appears in the next column.

Begin Date

This column shows the date entered in the Beginning Date field in Asset Detail.

Over (Under) Depreciated

This column shows the difference between the calculated total accumulated depreciation and the user-entered beginning accumulated depreciation (or application-entered information after making a critical depreciation change).

In most cases, a negative adjustment amount shows that you have not taken enough depreciation for the asset as of the beginning date entered. A positive adjustment amount shows that you have taken too much depreciation as of the beginning date. However, in the case of negative acquisition values entered for credits and rebates, a positive number shows you have not taken enough depreciation; a negative number shows you have taken too much depreciation.

If you've taken more beginning depreciation for an asset than the system calculates as correct, the system continues to take as much depreciation as you're entitled to each year. However, it stops taking depreciation when the asset is fully depreciated, which will be sometime prior to the end of its estimated life.

If you've taken less beginning depreciation than the system calculates as correct, the system by default does nothing to adjust for the difference. The program continues to take as much depreciation as you're entitled to each year. However, it stops taking depreciation at the end of the asset's estimated life. Therefore, the asset is never fully depreciated. Through Book Overrides, you can request that the system adjust for the difference and take the remaining depreciation expense immediately or during the postrecovery period. For instructions, see Book Overrides Tab.