About posting depreciation—Fixed Assets Management
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After placing assets in service, you can post depreciation manually or automatically each month.
Posting depreciation manually
You can post up to 500 depreciation entries at a time from the Post Depreciation page. Entries are posted offline as a bulk action run and can take up to 15 minutes to complete. After the run is complete, you'll receive an email notification with the results.
When posting an entry, all entries that come before it in the schedule must be posted too. You cannot skip a period in a schedule and post a later one.
If your company has automatic posting enabled, you can still post entries manually. Entries that are posted manually are excluded from the automatic posting at the end of the month.
Learn how to post depreciation manually.
Posting depreciation automatically
Sage Intacct can post depreciation entries automatically at the end of each month, so you do not have to remember to post them manually.
When automatic posting is enabled, Sage Intacct creates a bulk action run on the last day of each month. This run posts all depreciation entries with scheduled posting dates on or before the last day of the current month. After the run finishes processing, the administrative contact listed in Company settings receives an email with a short summary and link to the full results.
By default, automatic posting is not enabled. After you enable it, you can turn it off at any time. To use automatic posting, first turn on scheduled jobs in Company settings. This setting applies to all entities.
Learn how to post depreciation automatically.
Overriding posting dates
When posting entries from the Post Depreciation page, you can choose a custom posting date. The new date overrides the scheduled posting dates. This feature is especially useful if entries were originally scheduled for a closed period but you need to post them in an open period.
Learn how to override posting dates
Viewing bulk action run status
After posting depreciation manually or automatically, you can monitor the status on the Bulk Action Runs page.
Learn how to view bulk action run status.
Journal entries for depreciation expenses
When a depreciation entry successfully posts, Sage Intacct creates a journal entry that debits the Depreciation expense GL account and credits the Accumulated depreciation GL account. The journal entry also contains the following information:
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Description: "Depreciation expense: ID--Name", where ID--Name are replaced with the ID and name of the asset
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Dimensions: All dimensions copied over from the asset
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Memo: The Description field of the asset
Each depreciation entry creates 1 journal entry, unless you have summarization turned on in Fixed Assets Management configuration.
Example
| GL account | Debit ($) | Credit ($) |
|---|---|---|
| Accumulated depreciation | 100.00 | |
| Depreciation expense | 100.00 |
Viewing journal entries
To view journal entries related to a depreciation period, select the Journal entries link on any of the following pages:
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Depreciation Schedule
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Post Depreciation
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Bulk Action Run
The link opens a list of all related journal entries, including depreciation expense and reversal entries. Select a transaction number to view the details of a specific journal entry. Select a Base debit or Base credit amount within the journal entry to view the depreciation entries associated with that amount. If the journal entry is a summary, there will be more than one associated depreciation entry.
Correcting posted depreciation
If you post depreciation by mistake, you can correct it by reverting or reversing the depreciation entry, depending on how Fixed Assets Management is set up. Reverting deletes the original journal entry, while reversing creates an offsetting reversal entry.
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