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Set up declining balance rate for depreciation

Where to setup the declining balance rate for depreciation? Thank you.

you can set up the declining balance rate for depreciation in the Fixed Asset G/L Journal. To do this, follow these steps:

Navigate to the Fixed Asset G/L Journal page (search for "Fixed Asset G/L Journal" in the search bar).

Click on the "New" button to create a new Fixed Asset G/L Journal.

In the "FA Depreciation Book" field, select the depreciation book you want to set up.

In the "Transaction Type" field, select "Depreciation".

In the "Posting Date" field, enter the date for the depreciation calculation.

In the "FA Posting Type" field, select "Depreciation".

In the "FA Depreciation Method" field, select "Declining Balance".

In the "FA Depreciation Starting Date" field, enter the starting date for the depreciation calculation.

In the "FA Depreciation Ending Date" field, enter the ending date for the depreciation calculation.

In the "FA Depreciation Percentage" field, enter the percentage to be used for the declining balance method.

Once you have set up the Fixed Asset G/L Journal with the declining balance method and the appropriate percentage, you can then post the journal to calculate and post the depreciation. Note that you may need to set up additional parameters such as depreciation conventions, intervals, and thresholds depending on your specific requirements.

DAniele

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