Overview: Active Ledger & Reporting is able to automatically apply the calculated depreciation against the relevant accounts in the entity's dataset.
Please refer to the Glossary for definitions of key terms used in this article.
Prerequisites
Before being able to automatically post depreciation journals, you will need to ensure the following are set up:
The relevant dataset has been linked to the depreciation year. Refer to the support article: How to work with assets for how to do this; and
Appropriate sources and depreciation accounts have been chosen for each asset group. Refer to the support article: How to create an asset register for how to do this.
Posting the automatic journal
Navigate to the Assets screen and click on the Post Automated Journals button.
You will get a pop-up notification that a depreciation journal has been posted. Navigate to the relevant dataset and select the Journals tab to view the journal. By default, the journal will have the status 'Pending Export'.
For information on exporting journals back to the client's accounting file, see the support article: How to export a balancing journal.
To edit or void the journal, click on it. When editing, make any required changes amd click Save Journal. If you are wanting to delete the journal, click Void Journal.
Note: If any changes are made to the asset register, for example a new asset is added, make sure to update the depreciation journal by clicking on the Post Automated Journals button again. This will override the previously posted journal so there is no need to delete the old journal.