Article Objective: To assist users in navigating Active Ledger & Reporting to use the automatic journal function to post depreciation journals. Context: Active Ledger & Reporting is able to automatically apply the calculated depreciation against the relevant accounts in the entity's dataset. Please refer to the Glossary for definitions of key terms used in this article. |
Before automatically posting journals
Before being able to automatically post depreciation journals, you will need to ensure the following are set up:
- The relevant dataset has been linked to the depreciation year. Refer to the knowledge article: Assets - overview for how to do this; and
- Appropriate sources and depreciation accounts have been chosen for each asset group. Refer to the knowledge article: Assets - creating a register for how to do this.
Posting the automatic journal
Navigate to the Assets screen and click on the Process Automatic Journals button.
You will get a pop-up notification that a depreciation journal has been posted. Navigate to the relevant dataset and select the Journals tab to view the journal. By default, the journal will have the status 'Pending Export'.
For information on exporting journals back to the client's accounting file, see the knowledge article: Datasets - reports - trial balance.
To edit or void the journal click on it and make any changes before clicking on Save Journal.
Note: If any changes are made to the asset register, for example a new asset is added, make sure to update the depreciation journal by clicking on the Process Automatic Journals button again. This will override the previously posted journal so there is no need to delete the old journal.