Defining a custom method for calculating depreciation

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To define a custom method for calculating depreciation, complete the following steps.

  1. Open the Asset List window for an activity.
  2. In the Asset List window, choose Setup > Custom Methods.
  3. Click the Add button to open the Add Custom Method dialog.
  4. Enter a name for the custom method.
  5. Specify the period convention you want to use. (For a description of each field, press F1 to view the dialog overview topic.)
  6. Click Continue to open the Annual Rates dialog.
  7. Enter the depreciation percentages for up to 40 years. (Note that as you enter rates, the rate total is displayed at the bottom of the dialog.)
  8. Click OK. The custom method is added to the list in the Custom Methods dialog.
  9. Click Done.

The custom method is now available for selection from the Method field on the Depreciation tab of the Asset Detail dialog.

  • You can define up to 99 custom methods of calculating depreciation.
  • These methods are available to all clients, not just the open client.

Note: If you want your custom method to appear in the Method/Life Wizard, you must first add a new asset class and choose your custom method for that class. See Setting up a new asset class in the Method/Life Wizard.

If you use custom asset classes you will be responsible for updating asset classes, methods, and lives for any tax law changes.

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