Summary

The Accumulated Depreciation Adjustments process allows the user to modify the accumulated depreciation on assets. The entry generated in the general ledger will affect the Accumulated Depreciation account type and the Depreciation Expense account type.

Step by Step

1     Open or create a new Adjustments batch.

• Open the Adjustments Batches window (FA> Adjustments). The Batches window will display all the open Adjustments batches.
• Select a batch and click DETAILS to open the selected batch.
• Select a batch and click the Delete button to delete the selected batch. Any uncommitted adjustments in the batch will be deleted.
• Click the Create New Batch button to create a new batch. This will open the Create Batch window.
  • If there are open batches in the Adjustments process, you can create a new batch without affecting the open batches.
• The Batch Month and Batch Year fields default to the current date and are used for reference only. The batch month and batch year do not affect the transactions or journal entry date of the transactions in the batch.
  • The transaction date of an Adjustment is set up when the entry is created.
• Click the Create New Batch button to create the new Adjustments batch.

2     Open the Batch Overview page.

• The Batch Overview page provides a general overview of the selected batch.
• The left navigation menu displays all the steps in the Adjustments process.
• In the main section you'll see information about batch steps that are currently processing, next available batch steps, and the last completed batch step.
  • Batch steps that are currently processing will display a blue indicator bar to alert you that the step has not yet completed.
  • Once the preceding batch step is complete, the next available batch steps will be enabled and you can select the next step you would like to run.
    • While some batch steps are optional, any batch step that includes the Required tag must be completed before the batch is allowed to proceed through to the Commit step.
• The Batch Outputs section on the right will display any reports or exports that have already been generated in the Adjustments process.

3     Open the Adjustments window (FA> Adjustments> Adjustments).

• The Adjustments screen will display all of the open adjustments in the batch.
• Highlight an adjustment and click the Remove button to remove the adjustment from the batch.
• Highlight an adjustment and click EDIT to edit the selected adjustment.
• Click the + ADJUSTMENT drop-down menu and select Accumulated Depreciation Adjustment from the list. This will open the Accumulated Depreciation Adjustment window.

4     Create the Adjustment.

• The Accumulated Depreciation Adjustment screen is used to create an accumulated depreciation adjustment on a fixed asset. The asset section at the top of the screen is used to select the asset that will be adjusted and to specify the effective date of the adjustment.
  • Enter the Asset you would like to adjust or click the field search button   to select an asset from a list.
    • Only active assets can be adjusted. If you select a new asset, an error message will appear when you attempt to save the Value Adjustment window.
    • Fixed assets are created and maintained on the Fixed Asset Maintenance window (FA> Maintenance> Fixed Asset).
      • When fixed assets are initially created, their status is set to New. A new fixed asset must be installed in order to update the asset status to Active. Fixed assets are installed in the Install Assets process (FA> Install Assets).
    • The Asset Description and Install Date will automatically populate after the asset is selected.
    • If there is already a depreciation adjustment for the selected asset in another uncommitted batch, a warning message will appear and you will not be able to continue with the adjustment.
  • Enter a Transaction Date for the adjustment. This field will default to today's date.
  • Enter an optional Transaction Description for the adjustment. This field can be up to 50 characters long.
• The As Of Transaction Date section will display the selected fixed asset details as of the date specified in the Transaction Date field above.
• The Adjustment section is used to enter the adjusted values for the asset.
  • Enter the Accumulated Depreciation adjustment for the fixed asset.
    • Entering a positive value in this field will increase the resulting fixed asset accumulated depreciation by the amount entered. Entering a negative value will decrease this amount. You cannot, however, enter an adjustment amount that will result in a negative accumulated depreciation value in the Result section to the right.
• While the Result section will automatically update to reflect the changes made in the Adjustment section, you can alternatively make changes directly in the Results section. This allows you to specify the desired accumulated depreciation after the adjustment in the Results section and the Adjustment section will display the adjustment required to achieve that value.
• Click the Save button to the save the accumulated depreciation adjustment. This will return you to the Adjustments window.
• Once all of the desired adjustments have been added to the batch, proceed to the Proof List step.

5     Print the Adjustment Proof List.

• Open the Proof List screen (FA> Adjustments> Proof List).
• Use the Group By drop-down menu to group the adjustments in the batch by Adjustment Type only or by Asset, Adjustment Type to group adjustment types within each asset.
• Once the required report settings have been specified, click the Print button   to print your report.
• Click the options arrow on the right side of the Print button to see other print options.
  • Select PDF to print the report in the default Springbrook format.
  • Select Excel to export the report data to an Excel spreadsheet as unformatted data.
  • Select Excel (Formatted) to export the report data to an Excel spreadsheet that includes much of the Springbrook formatting found on the printed version of the report.
• Click the Schedule icon next to the Print button in order to schedule the report to generate at a later date and time.
  • Enter a Date and Time to generate the report and click SUBMIT.

6     Print the GL Distribution Report.

• Open the Print GL Distribution screen (FA> Adjustments> GL Distribution).
• Enter the Journal Entry Date for the adjustment. This date will determine the fiscal year and fiscal period the adjustment will be recorded to the general ledger.
  • The Fiscal Period and Fiscal Year fields will automatically populate based on the selected journal entry date.
• Select the desired Report Type from the drop-down menu.
  • The Summary version of the report will display the Account Number, Account Description, Net change to the account, Fund Totals, and Report Totals. The report will be organized by account number.
  • The Detail version of the report will display everything included in the summary report as well as the Asset name, Asset description, and Debits and Credits for each account and fund.
• Check the Subtotal by Dept. toggle to include department subtotals on the report.
• Once the required report settings have been specified, click the Print button   to print your report.
• Click the options arrow on the right side of the Print button to see other print options.
  • Select PDF to print the report in the default Springbrook format.
  • Select Excel to export the report data to an Excel spreadsheet as unformatted data.
  • Select Excel (Formatted) to export the report data to an Excel spreadsheet that includes much of the Springbrook formatting found on the printed version of the report.
• Click the Schedule icon next to the Print button in order to schedule the report to generate at a later date and time.
  • Enter a Date and Time to generate the report and click SUBMIT.

7     Commit the Adjustments batch.

• Open the Commit Adjustments screen (FA> Adjustments> Commit).
• Click the Continue button or press ENTER to commit the batch.  
  • If you click the Cancel button, you can still commit the batch via the Commit button.