Depreciation is a key piece of Asset Management. Cetec ERP allows you to set up depreciation for any tool/asset. Heres how to use it:

• First navigate to your tools by going to Production> Tools> Tool List. Note: This feature is only available on the new version of the Tool screen.
• Click on your tool/asset you want to set an asset depreciation for. Then click on the depreciation button on the left hand menu.
• Set your Tool Cost and Salvage. You can also set yearly entries or monthly entries. Change the Period Type to Year or Month depending on the entries you want to make.
• Be sure you have the accounts 533000 Depreciation Expense under Expenses and 120500 Accumulated Depreciation under Fixed Assets. These are the accounts you will post Depreciation to.
• Once youve set everything you can click the preview button which will show you what the entries will look like with the information you have input. This gives you an overview before you click submit to make the actual GL Entries.
• After viewing the preview click submit. You will then create GL Entries for either the years or months depending on what number you input.
• You can review these GL entries by clicking into them. You can see how it was posted.