Financial Details
‘*’ Required
Date Placed in Service (DPIS)
If the current date is in the current open period, the default DPIS is the calendar date you enter the asset.
If the calendar date is before the current open period, the default date is the first day of the open period.
If the calendar date is after the current open period, the default date is the last day of the open period.
Accept this date or enter a different DPIS in the current accounting period or any prior period.
You cannot enter a DPIS before the oldest DPIS you specified in the System Controls window.
You can change the DPIS at any time. If you change the DPIS after depreciation has been processed for an asset, Assets treats it as a financial adjustment, and the accumulated depreciation is recalculated accordingly. The asset category, book, and DPIS determine which default depreciation rules Assets uses. If the asset category you entered is set up for more than one DPIS range for this book, the DPIS determines which rules to use.
If you enter a DPIS in a prior period and zero accumulated depreciation, Assets automatically calculates catchup depreciation when you run depreciation and expenses the catchup depreciation in the current period.
The DPIS for CIP assets is for your reference only. Assets automatically updates this field to the date you specify when you capitalize the asset using the Capitalize CIP Assets window."
Defaulting from Category
To summarize, many fields will default from the Category, including
● Salvage Value type/Percent/Amount
● (Depreciation) Method/Life in Months/Basic Rate/Adjusted Rate
● Prorate Conversion and Date
After you have created your asset, you will need to download to confirm all the defaults that have been applied.
Percentage Values
The format of percentage fields is often confusing. If you wish to use a percentage then the field will expect a valve between 0 and 1. For example, if you enter 0.5, it corresponds to 50%.
Salvage Value Percent example:
![]() YTD Depreciation and Depreciation Reserve
If you enter a DPIS in a prior period and zero accumulated depreciation, Assets automatically calculates catchup depreciation when you run depreciation and expenses the catchup depreciation in the current period
Sections:
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