Periodic settlement of over and under depreciation (Japan)

Note

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

Use this task to learn how to calculate and record depreciation expense for deductible expense.

This task uses the JPMF demo company data.

Fixed asset depreciation

  1. Go to Fixed assets > .. > Fixed assets journal.
  2. Click New.
  3. In the Name field, type a value.
    • Example: FAD
  4. Click Lines.
  5. Click Proposals.
  6. Click Depreciation proposal.
  7. In the To date field, enter a date.
    • Example: 3/31/2016
  8. Click Filter.
  9. In the Criteria field, type a value.
    • For example, set Fixed asset number = BUILM-000005
  10. Click OK.
  11. Click OK.
    • Verify that the depreciation journal was created.
  12. Click Post.

Over and under depr settlements

  1. Go to Fixed assets > Periodic tasks > Settlement of over depreciation or under depreciation amount.
  2. Click New.
  3. In the To date field, enter a date.
    • Example: 03/31/2016
  4. In the Journal name field, type a value.
    • Example: FAD_TAX
  5. Expand the Records to include section.
  6. Click Filter.
  7. In the Criteria field, type a value.
    • For example, set the Fixed asset number = BUILM-000005
  8. Click OK.
  9. Click OK.
  10. Refresh the page.
    • The results may not appear instantly. Click refresh to see if the result is created.
  11. In the list, find and select the desired record.
    • Click the new result with Status = Draft.
  12. Click View settlement results.
    • Verify that the correct result is created.
  13. Click Post.