CAT CHAT: Fixed Assets Depreciation Date: May 6, 2020 Time: 3:00PM-3:30PM EDT
Lata Reddy
JDE Financial Specialist
Fixed Assets Depreciation in JDE changing methods without customization
Although the JD Edwards Fixed Assets system provides a wide range of standard depreciation methods, there might be a need for specific depreciation algorithms other than those provided with the standard depreciation methods.
For example, to help small businesses, owners can claim their first-year bonus depreciation in qualifying personal property used for business purposes. Using bonus depreciation, they can deduct a certain percentage of the cost of an asset in the first year it was purchased, and the remaining cost can be deducted over several years using regular depreciation.
You can customize depreciation methods using JDE User-Defined Depreciation rules to define specific depreciation methods needed without custom programming. For example, you can create a new rule to take a 50% bonus in the first year of asset life, then it could revert to straight line depreciation.
Depreciation rules define the algorithm that the system applies to the cost of an asset over the course of the asset's life every time you compute depreciation. JD Edwards’ User-Defined Depreciation (UDD) uses elements like Cost, Life Years, Accumulated Depreciation, Net Book Value, etc. that combine with depreciation rules.
In this session, CAT will walk you through:
- How to set up custom depreciation methods
- How to calculate user-defined depreciation
Chat with Lata about CAT’s Fixed Assets Depreciation
Fill out the form below to register for a live meeting with Lata on May 6, 2020 from 3:00PM-3:30PM EDT. She will be available to answer your and other participants’ questions on how to setup and deploy custom depreciation methods. This is not a webinar, but Lata can share materials that illustrate our solution.