- Knowledge Base Categories:
- Fixed Asset Inventory
FAQ: I completed the Process Catch-Up Depreciation option last year. Do I need to complete this option again this year?
I completed the Process Catch-Up Depreciation option last year. Do I need to complete this option again this year?
The Process Catch-Up Depreciation option is only necessary if this is the first year setting up Fixed Asset Inventory. However, if assets were added to the Asset File during the current fiscal year with a Purchase Date prior to the current fiscal year, the Process Catch-Up Depreciation option should be executed. For example, if an asset that was purchased ten years ago was entered into the Asset File this fiscal year, complete the Process Catch-Up Depreciation option.