Depreciation in WorthIT Fixed Assets

The depreciation screen is simple and straightforward. It offers the ability to run, update, or undo depreciation for a single period or the entire year.

Depreciation Run

The first step in performing a period or year-end depreciation is to perform a depreciation run. A run will calculate the depreciation values for your assets, and save records as temporary in the database. Once you run depreciation, you can use the depreciation edit report to analyze the records that were added during the run. If you notice any errors or omissions, it's okay. You can go and make changes and re-run the depreciation. As the records are temporary, they will be overwritten with your adjustments.

Depreciation Update

Once you are satisfied with the depreciation run, you can select "Depreciation Update" to confirm the temporary records. At this point, you have completed your depreciation run for the period or year.

Depreciation Undo

Sometimes, you don't notice an error until after depreciation is updated. Undoing depreciation for a period or year is a simple process. Click "Depreciation Undo" and confirm. The history records created from the previous run will be removed and you can make the required adjustments.