Create lump-sum depreciation assets using equally-divided method (Japan)

Note

We will not be accepting edits to this topic, because it is generated from a business process in Lifecycle Services.

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.