Fixed Asset Process Management Fields

Stores information about the depreciation schedule generation and export processes. The Fixed Asset Process Management object includes the following fields.

Key: R – Read-only

Field Name

  

Description
Auto-Post Depreciation Journals  

If selected, depreciation journals are posted automatically, using the schedule definition settings, when you generate the depreciation schedules and export journals. Journals are posted with status of Complete, and the corresponding transactions are created.

Note:

This option only applies when generating depreciation journals for fixed assets with Accounting Books.
Book Types   The depreciation books used when generating or exporting depreciation schedules associated with the fixed asset process. More than one book can be selected. The available options are: Accounting Books, Custom Books, Tax Books, and MACRS Tax Books.
Date   The date when the fixed asset process is created.
Description   The description of the fixed asset process.
Existing Schedules  

The method of controlling depreciation schedule generation for the associated fixed asset process. You can choose whether to replace the existing depreciation schedules of the assets associated with the process.

Note that you can replace existing depreciation schedules only if the associated fixed assets with the status of "Active" have no depreciation schedules and journals generated.
Export as of Date  

The last date up to which the system exports the depreciation schedules for the associated fixed asset process.

This field is not displayed if you select Scheduled in the Mode field.
Frequency  

If you have selected Scheduled in the Mode field you can use this field to specify when depreciation journals are created. The options are:

  • Fixed asset time period. Journals are created according to the selected time period of each selected fixed asset.
  • Month. The depreciation journals are created on the last day of every month.
  • Quarter. The depreciation journals are created at the end of every quarter.
  • Year. The depreciation journals are created on the last day of the year.

The frequency that you select for journal creation does not affect the depreciation schedule time period of the fixed asset.

This field is not displayed if you select Manual in the Mode field.
Generation Duration   The period over which the process generates depreciation schedules for the associated fixed asset process. This can be for 6 months, 12 months, or for the remaining service life of the asset.
Generation Period Start Date   The start period for depreciation schedule generation for the associated fixed asset process. This can be either the asset's default date or a specific date.
Generation Start Date   The start date for depreciation schedule generation for the associated fixed asset process. This can be either the asset's default date or a specific date.
Mode  

You can specify the schedule mode. The options are:

  • Manual. You must manually export the depreciation journals using Generate Depreciation Schedules and Journals. This is the default value.
  • Scheduled. The depreciation journals are created automatically according to the value in the Frequency field.

If you select Manual, the Frequency field is not displayed. If you select Scheduled, the Export as of Date field is not displayed. If you change the Mode, any existing values in these fields are deleted.
Name   The name of the fixed asset process.
Number of Fixed Assets   The number of assets included in the fixed asset process.
Scheduled Job R Automatically populated with the name of the scheduled job generated for the depreciation schedule.
Specific Date   The specific start date for depreciation schedule generation for the associated fixed asset process. This field is displayed only if you select the Specific Date option in the Generation Start Date field.
Status R

The status of the fixed asset process. The available statuses are:

  • Active
  • Draft
  • New
  • Completed
  • Fully Depreciated
  • Generated

For more information, see Fixed Asset Process Management Overview.

Buttons

The following buttons might display. The availability or validity of these buttons varies according to many factors, including org configuration.

Key: L - Lightning Experience only

Button

  

Description
Clone   Takes you to a copy of the selected process.
Delete   Removes the process. You can also remove multiple fixed asset processes in one go using the Delete button on the Fixed Asset Process Management list view.
Edit   Prepares the process for editing.
Generate Depreciation Schedules L Generates depreciation schedules for the fixed assets included in the process.
Generate Depreciation Schedules and Journals L Generates depreciation schedules and exports journals to Accounting for the fixed assets included in the process.