This is the code that is entered on the fixed asset screen to identify the percentage table to be used to depreciate the asset. This code can be either numeric, alphabetic or a combination of both. The field is 15 positions wide.
This field contains the description of the table. The field is 35 positions wide.
The percentages and the years (years of asset life i.e. 1, 2, 3) in which they are applied are entered on the second part of the ACRS Table form displayed below.
Depreciation Years From
The percentage used in calculating the depreciation expense is associated with a particular year of asset life (i.e. 1 for first year) or range of years (i.e. 1-3). Enter here a year or the first year in the range of years
Depreciation Years To
The percentage used in calculating the depreciation expense is associated with a particular year of asset life (i.e. first year is 1) or range of years (i.e. 1-3) If the percentage in this table entry is associated with a range of years, enter the last year in the range of years. Otherwise leave this field blank.
Rate of Depreciation
Enter here the rate or percentage used in calculating the depreciation expense. For example if the rate is 10%, enter 10.