Fixed Asset Module in Epicor Kinetic
We would like to know if the Fixed Asset module (which will be available in Epicor Kinetic) will have the function of assigning default cost centre code to every new individual asset bought while shared assets (like the HQ Factory Building), will have a “Holding Cost Centre” called HQ-SHARED?
At the end of the month, the Fixed Asset Module will generate the total depreciation and we only need to post one single journal entry to clear out HQ-SHARED and distribute it based on our fixed, pre-calculated square footage percentages.
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To add on to Ei Li’s ticket, accounts team is currently handling fixed asset depreciation manually, with the Accounts team calculating and posting the monthly depreciation journals.
1. Depreciation Automation
Can the FA module automatically calculate and post monthly depreciation entries?
Is it able to post depreciation expenses directly to the appropriate department code without requiring manual adjustments each month?
2.Existing Fixed Assets
Our existing assets do not currently have department codes assigned in the system.
If department codes are assigned when these assets are migrated into the FA module, will future depreciation be allocated according to those department codes?
Will this setup impact any historical depreciation records?
3.Shared Assets Allocation
For assets that are shared across multiple departments, such as the factory building, does the FA module support allocation of depreciation based on predefined percentages?
For example, can we maintain allocation ratios within the asset setup and have the system automatically distribute depreciation expenses across departments during each depreciation run?