Depreciation Company Journal

Depreciation Company Journal Overview

The SapphireOne Depreciation Company Journal (DCO) allows the user to choose a custom depreciation tax rate. A depreciation tax is a deduction claimed for the degradation over time of an income-producing asset.

The SapphireOne Depreciation Company Journal function allows the user to enter in a particular depreciation value as an alternative to using the SapphireOne Auto Function. It should be noted that these types of transactions in SapphireOne have a type of DCO.

This function is located by going to Assets > Assets > Depreciation Company Journal.

Assets Area

The only requirement for data entry in this area is to enter the ID of the item that is to have this Depreciation Company Journal created for it. SapphireOne will then display the name of the asset immediately below the ID.

Additional information on the item may be viewed by selecting one of the four tabs in the tab area. These tabs display as follows.

  • Transactions – Lists all depreciation transactions that have been created for this item.
  • General Ledger – Displays the General Ledger accounts that are linked to this item.
  • Asset – Displays basic details about the item.
  • Controls – Displays additional details about the item.

Notes Area

Any notes that are required may be entered in this area. The user can select the Green Clock Icon to add a Time and Date stamp to the Notes. The user also has the ability to highlight the text in the Notes area and right mouse click to customise the Font, Style, Colour and Background Colour to their preference.

Depreciation Area

  • Date – SapphireOne will enter in today’s date which may be altered by the user if required.
  • Tag – A tag may be entered by the user. This list of tags may be created by the user as required.
  • Int Ref – SapphireOne will enter in an Internal Reference number. This may be altered by the user if required.
  • Ext Ref – The entry of an External Reference number may be entered but it is not compulsory.
  • Period – SapphireOne will enter in the current period but this may be altered if required.
  • Method – SapphireOne will enter the DCO type automatically.
  • Projects – If a Project is entered here and depreciation is run, it will then be linked to the Depreciation Expense Account.
  • Purchase Cost – The purchase cost of the item will be displayed here.
  • Depreciation TTD – The Total amount of depreciation up to today is displayed here.
  • Available Depreciation – The amount that is still available for depreciation is displayed here.
  • Depreciation Amount – This is a user entered data entry field. Enter the amount that you wish to depreciate the item in this data entry field. The maximum amount will be determined by the Available Depreciation in the data field immediately above.
  • Saving – Once all data entry is correct select the save icon on the main toolbar.

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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