Maintaining Depreciation Periods
For fixed assets you need to ensure that the required depreciation periods are available. When the software is installed, a range of depreciation periods are automatically populated and available to your establishment/organisation however, there may be occasions where additional depreciation periods are required.
A depreciation rule runs every night to add accounting periods you have created to the DEP_S_PERIOD - Depreciation Start Periods keylist. Depreciation periods only need to be maintained using the following process if the rule is not configured to run. If you are not sure if the rule is automatically running, contact your organisation's IRIS Financials administrator.
This topic explains how to create and maintain depreciation periods stored within a keylist in IRIS Financials.
Creating Depreciation Periods
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Select Maintenance, then select Keylists from the menu.
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The Keylist Maintenance window is displayed. Select DEP_S_PERIOD - Depreciation Start Periods from the left-hand panel, select ADD NEW, then select KEY. A <New item> is displayed in the key panel.
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Enter a code for the period in Key, typically the years and month number of the depreciation period e.g. 2050/51.01. Then enter a title for the period in Title, e.g. September 2050, then select SAVE.
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An Update complete message is displayed. Select OK to close the message and return to the previous window.
Maintaining Depreciation Periods
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On the Keylist Maintenance window, select DEP_S_PERIOD - Depreciation Start Periods from the left-hand panel, select the required depreciation period from the key panel e.g. 2050/51.01 - September 2050, then select EDIT.
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You are unable to edit any field that remains grayed out. Make the required changes, for example, add an attachment, then select SAVE.
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An Update complete message is displayed. Select OK to close the message and return to the previous window.