How do I depreciate assets?

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• How do I depreciate assets for prior years?

  Use the Prior Years Option to set up the routine to calculate depreciation on the fiscal years preceding the current year. Depreciating assets for prior years 1. Open Connect Asset Management > Organization > Depreciate Assets. 2. Set up the Asset ...

• How do I depreciate assets for the current year?

  Use Depreciate Assets to allocate the cost of an asset over the life of the asset. Depreciation is applied against the selected assets based on the asset's depreciation schedule. The depreciation amount that is applied to the transaction is adjusted ...

• Related Assets Report

  A Related Assets Report identifies assets that are linked or associated with one another in the system. These relationships help track assets that function together, were acquired together, or are connected for accounting and management purposes. ...

• How do I retire assets?

  Use Retire Assets to dispose existing assets by removing the asset from the Active Assets list. Even though an asset has been retired, also known as junked, the system will keep the asset's transaction history. Recording a disposed asset will ...

• How do I sell assets?

  Use Sell Assets to record an asset that was sold by the organization. Entering a sold transaction will remove the asset from the Assets List, and update the associated GL accounts. When a sold entry is recorded, the system will Calculate the sold ...