How To Record Depreciation Via Collective Option?

Steps to follow

1. Navigate to Fixed Asset Management.
   • Select the "Accumulated Depreciation" tab.
   • Click on the "Collective" option.

2. 

3. Select Asset Group:

   • Choose the relevant Asset Group (e.g., Furniture and Fixtures, Technology Equipment or Collective group) from the dropdown menu.

4. View Asset Details:

   • The system will display all assets under the selected group, including:
     • Item Name
     • Lot Number
     • Book Value
     • Depreciation Amount (automatically fetched based on asset details like Useful Life and Salvage Value).

5. Verify Depreciation Amounts:

   • Review the system-calculated Depreciation Amounts for each item.

6. Add Description (Optional):

   • Enter a description for the depreciation entry in the Description field.

7. Set Depreciation Date:

   • Specify the Date for the depreciation transaction.

8. Save the Transaction:

   • Click the "Save" button to finalize and record the depreciation.