Create lump-sum depreciation assets using equally divided method

In Japan, 3 types of fixed assets are depreciated with equal amount in each year of its service life. The 3 types are: lump sum assets, deferred assets and low-value assets.

Use this task to learn how to create a lump sum fixed asset.

In order to complete this task, the Fixed Assets configuration key must be selected.

This task uses the JPMF demo company data.

Create a lumpsum fixed asset

1. Go to Fixed assets > Fixed assets > Fixed assets.
2. Click New.
3. In the Fixed asset group field, type a value.
4. In the Name field, type a value.
   • Confirm that the Type is defaulted from the Fixed asset group.
   • Set the Type to Deferred for Deferred asset.
   • Confirm that the Asset classification is set to Lump sum
   • Set Asset classification to Low-value for low-value assets.
5. Click Save.
6. Click Books.
7. Expand the Depreciation section.
   • Confirm the Method is Equally divided

Confirm the depreciation profile

1. Go to Fixed assets > Setup > Depreciation profiles.
2. Use the Quick Filter to filter on the Depreciation profile field with a value of 'LUMPSUM'.
   • Confirm the Method is Equally divided
   • Confirm that the Number of years to equally divide depreciation is 3
   • The value varies depending on the type of fixed asset is lump-sum, deferred asset or low-value asset.