Concept: Depreciation Profiles
Depreciation profiles provide the building blocks for Workday to create depreciation schedules.
When you assign accounting information to an asset, Workday populates the depreciation profile on the asset from:
- Asset book rules.
- The asset information.
Then, Workday populates these depreciation details on the asset from the depreciation profile, when applicable:
- Depreciation convention.
- Depreciation method.
- Depreciation percent.
- Depreciation threshold.
- Rate schedule.
- Useful life.
When you place a capital asset in service, Workday creates the depreciation schedule based on the depreciation details on the asset.
An asset can have different depreciation profiles in different asset books.
Changing Depreciation Details on Assets
You can access the
Change Accounting Information
task from the related actions menu of assets with no posted depreciation to change their depreciation details. When you change depreciation details on assets, Workday doesn't apply these changes to the depreciation profile. After you start recording depreciation on assets, you can no longer change the depreciation:
- Convention
- Method
- Percent
- Threshold
You can still adjust:
- The rate schedule on assets that use custom depreciation rate schedules. See Concept: Asset Accounting Tasks.
- The useful life. See Correct or Adjust Useful Life.
Maintaining Depreciation Profiles
Changes to depreciation profiles aren't retroactive. When you edit a depreciation profile, your changes only apply to assets that you register after the change.
You can delete depreciation profiles that you've never selected in asset book rules or on assets. You can no longer delete depreciation profiles after you use them, but you can deactivate any depreciation profiles that your asset book rules no longer use.