SYSPRO facilitates the calculation and posting of both book and tax value depreciation with full auditability, and includes the option to start calculating depreciation for each asset from the date of purchase or from a designated depreciation start date.
The system caters for a variety of depreciation methods including Straight Line, Reducing Balance, Statistical End of Useful Life (EUL) and Fixed EUL, as well as up to 14 variable depreciation rates. Periodic depreciation is calculated automatically with the option to run the calculation in 'Report only' mode for verification purposes.
Useful for when the wrong depreciation code has been applied to an asset, the depreciation adjustment facility allows secure alteration of depreciation amounts and generation of the relevant general ledger entries. Furthermore, to meet the regulatory requirements of International Accounting Standards (IAS) statement 16, SYSPRO provides the facility to enter the revised life capacity of an asset and to calculate the necessary adjustments to accumulated depreciation and depreciation for the year.
When you take on a new assets register from an external system, either manually or via the import function, SYSPRO facilitates the optional automatic calculation of depreciation for those assets which you acquired before the start of the current financial year.