| # Depreciation Journals ERP Enterprise identifies data for journal creation each time you depreciate an asset in its default posting book. Depreciation journals debit the depreciation expense account and credit the accumulated depreciation expense account. ERP Enterprise also creates journals when you restate depreciation for an asset in its default posting book. If you restate depreciation for a prior period, ERP Enterprise recalculates depreciation expenses by using the current method and life for the asset's posting books. After calculating the depreciation, ERP Enterprise first generates a reversing journal entry that credits the depreciation expense account for its former amount and then debits the accumulated depreciation account. ERP Enterprise then generates the standard depreciation entries. The accounts used to create the depreciation journal are stored on the asset distribution line (in the integration scheme). If journals are created, ERP Enterprise performs validation on the accounts and periods affected to ensure the entry is correct. A journal is not created if the Suppress Journal Entries check box is selected. |