Skip to main content
Documentation
Documentation
Administrator Guide
Last Updated: 2023-06-23
Example: Set Depreciation Accounting Status for Company Asset Books

Example: Set Depreciation Accounting Status for Company Asset Books

This example illustrates how to control when Workday can or can't create journals for prior periods.
As an assets accountant, you need to set the status of a depreciation expense line for an asset to
Accounted
 on or before a specific date. Specifying a date helps you avoid creating journals for prior periods when you set the accounting status for depreciation expense lines.
  • Register the asset.
  • Configure asset accounting.
  • Security: These domains in the Business Asset Accounting functional area:
    • Process: Business Asset Accounting
    • Setup: Company Asset Books
  1. Access the
    Add Assets to Company Asset Book
     task.
  2. On the
    Criteria
     tab, enter these values:
    Field
    Value
    Company
    GMS USA
    Company Asset Books to Add Assets to
    Statutory
    Source Asset Book
    Accounting
    Exclude Assets Disposed Earlier Than
    Workday automatically populates the first day of the current fiscal year.
    Location
    Blank
    Asset ID
    Blank
    Depreciation Information
    Copy from Source Asset Book
    Depreciation Accounting Status
    Date until the depreciation period status of the asset is set to
    Accounted
    . Workday doesn't create journal entries for individual depreciation periods until the specified date.
    Date to record depreciation until the depreciation period status of the asset is set to
    Posted
    . Workday creates journal entries for individual depreciation periods until the specified date.
    Bonus Depreciation
    Copy from Source Asset Book
  3. Click
    OK
    .
Workday adds the new asset book and updates the accounting status for depreciation expense lines to
Accounted
 until the date specified.