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Administrator Guide
Last Updated: 2023-06-23
Example: Add Asset Details to Preview Depreciation Schedule

Example: Add Asset Details to Preview Depreciation Schedule

This example illustrates how you can preview the depreciation schedule for an asset before you register it.
As an asset accountant, you can view the depreciation calculations for each fiscal period before you register an asset. You can enter the asset depreciation and cost details using the
Preview Depreciation Schedule
 report to generate depreciation schedules.
Set up a company, asset book, fiscal schedule, and fiscal years.
  1. Access the
    Preview Depreciation Schedule
     report.
  2. In the
    General Information
     section, enter these values:
    Field
    Value
    Asset ID
    Blank
    Company
    GMS USA
    Asset Book
    Workday automatically populates this field with the primary asset book.
    Fiscal Schedule
    Workday automatically populates the schedule.
    Worktags
    Blank
    Location
    Blank
    Asset Shares
    Workday automatically populates this field from the selected Asset ID.
  3. In the
    Depreciation Information
     section, enter these values:
    Field
    Value
    Depreciation Profile
    Blank
    Depreciation Method
    Straight Line
    Depreciation Rate Basis
    Periods
    Useful Life (Periods)
    24
    Depreciation Posting Frequency
    Workday automatically populates the frequency.
    Place In Service Based On
    Upon Acquisition
    Depreciation Convention
    Current Period
  4. In the
    Asset Details
     section, enter these values:
    Field
    Value
    Currency
    Workday automatically populates the currency.
    Asset Cost
    13,000.00
    Residual Value
    1,000.00
    Bonus Depreciation %
    Blank
    You can specify the bonus depreciation for any asset book, but you can only use bonus depreciation in nonaccounting books.
    Accumulated Depreciation
    Blank
    Historical Bonus Depreciation
    Blank
    Year to Date Depreciation
    Workday displays this field only when you enter accumulated depreciation, and the
    Depreciation Method
     isn't
    Straight Line
     or
    Term
    .
    Remaining Useful Life
    Workday displays this field only when you enter accumulated depreciation.
    Acquisition Date
    Current Period
    Date Placed in Service
    Workday automatically populates the date and places the asset in service upon acquisition.
    Depreciation Start Date
    Workday displays this field only when you enter accumulated depreciation.
  5. Click
    Calculate
    .
    Workday generates a depreciation schedule.
  6. Click
    OK
     to export the report.
The asset accountant can:
  • View the depreciation schedule before registering an asset.
  • Ensure that generated depreciation expense lines are correct.