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assetmanagement:maintenance:inventorymaintenance:bookrecords
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Book Records - BAM3000
Asset Management > Maintenance > Inventory Maintenance > Book Records
This tab is used to define how depreciation should be calculated for an item by defining the property class, depreciation method, recovery period, and depreciable amount for only capital assets (inventory type C).There is currently only one book type, Generally Accepted Accounting Procedures (GAAP or GP) that uses the Straight Line (SL) and No Depreciation (ND) methods. A warning message is displayed if no record exists for capital items. The following fields are required for depreciation calculations:
- Property Class
- Date In Service
- Deprec Method
- Recovery Period
- Convention
Add or retrieve an existing book record:
| Retrieve an existing item. | Search for a record. |
|---|
Click +Add to add a depreciation record.
| Field | Description |
|---|---|
| Item Nbr and Description | The item number is displayed. |
| Description | The item number description is displayed. |
| Book Type | Click  to select the book type (e.g., GP - GAAP (Generally Accepted Accounting Procedures)). The field is required for depreciation calculations. |
| Property Class | Click to select the property class description. The field is required for depreciation calculations. |
| Date In Service | Type the date that the record was entered into the system in the MMDDYYYY format. If entering a new record, this field is populated from the Acquired Date field on the Inventory Records tab, or you can override with a different date. The field is required and is used for inventory validation to maintain accurate depreciation calculations. |
| Deprec Method |
Click • Straight Line (SL) - SL depreciation only. Uses the two conventions available, Full Month (FM) and Half Year (HY). • No Depreciation (ND) - Used for land or other assets that do not lose value. • If left blank, the field is populated from the property class record.
CAUTION: If the depreciation method for an inventory item is changed from Straight Line (SL) to No Depreciation (ND), the following message is displayed, “Warning: When saved, any depreciation history is deleted. Do you wish to continue with this change?” Click Yes to change the depreciation method and delete the depreciation history. Since all depreciation history records for this inventory item are deleted with this change, it is strongly recommended that the user create a system backup before saving this change. Click No to disregard the change. The depreciation method is not changed, and the depreciation history is not deleted. The field is required for depreciation calculations. |
Other functions and features:
| Retrieve | Retrieve data. | |
|---|---|---|
 | Delete a row. | |
| Documents | View or attach supporting documentation. | |
assetmanagement/maintenance/inventorymaintenance/bookrecords.1493930206.txt.gz · Last modified: 2017/05/04 15:36 (external edit)