Reverse Depreciation

Reverse Depreciation Overview

Reverse Depreciation is the ability to amend and correct a processed auto depreciation. This functionality is vital for when you have completed an auto depreciation and there may now be some amendments or adjustments to the depreciated values, such as changes to tax laws, under utilisation of a depreciating asset or the asset has been written off. The SapphireOne Reverse Depreciation function allows the reversing of the last Auto Depreciation function that was executed.

SapphireOne will only display Asset depreciation transactions for any months that have not yet had the End Of Month procedure executed for the Assets. 

When the Reverse Depreciation function is selected SapphireOne will display a list of transactions that meet the criteria. 

Reverse Depreciation Page

Procedure

  1. First select the Assets that are to have their Auto Depreciation reversed. As each item is selected a Tick will be displayed. 
  2. When the required Asset depreciation transactions have been selected select the Process button. 
  3. The alert screen seen below will be displayed. 
  4. Select the Process button again to complete the procedure. 

Once selected, SapphireOne Assets will create all the correcting journals required to reverse the Auto Depreciation that was run for the items as selected. 

SapphireOne’s implementation of both Dictation (MacOS) and Speech to Text (Windows) is a game changer for data entry. Any data entry field you can type into using a keyboard can use this feature.

You can also use this functionality on all inquiry screens within SapphireOne. For example, the user is in a Contact within a Client. They may have made a phone call to that particular client using the Softphone technology. Consequently, this will automatically date and time stamp both the contact and the phone number you called.

As soon as the call is completed, the user has the ability to use Speech to Text (Windows) or Dictation (MacOS). They can dictate into the memo field of the CRM contact, adding as much description as they require.

Dictation and Speech to Text Procedure

This functionality applies across every single Data Entry screen. For example, the SapphireOne user is entering a Vendor Invoice (VI). Additionally, you may want to add a memo within the Vendor Invoice (VI). The user can utilise the tool and simply dictate the memo.

Another example is if the user wants to add additional lines to the General Ledger account, within each General Ledger account. When the user is completing data entry using a General Ledger, there’s always a unique memo field for each GL account line. The user can then utilise this feature to quickly add the information they need to add. Alternatively, you may have an interview with an employee. After the interview process is completed, the user can then make notes about the employee.

Speech to Text or Dictation is an extremely powerful tool. It is something that we at SapphireOne, as well as our clients, utilise daily. It is a massive timesaver. 

This creates a full reversal as though the Auto Depreciation never occurred for the Assets as selected. 

This function is normally only used if the Auto Depreciation has been used in error. For example, when making some final checks before the End Of Month is run reveals that there is an error or an adjustment that needs to be made to an Asset or Assets, the Reverse Depreciation function may be run, the error or adjustment made, and the Auto Depreciation function re-run. 


You can review our Blog and YouTube channel for additional information and resources on SapphireOne ERP, CRM and Business Accounting software.

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