Concept: Depreciation Profiles
Depreciation profiles provide the building blocks for Workday to create almost any asset
depreciation schedule.
When you assign accounting information to an asset, Workday populates the depreciation profile
on the asset from your asset book rules and the asset information. Then, Workday populates
these depreciation fields from the depreciation profile:
- Useful Life
- Convention
- Depreciation Method
- Depreciation Percent
- Depreciation Threshold
You can override these fields individually or change the depreciation profile as long as you
haven't recorded any depreciation on the asset. After you start recording depreciation
on an asset, you can't change these fields:
- Convention
- Depreciation Method
- Depreciation Percent
- Depreciation Threshold
An asset can have different depreciation profiles in different asset books.
When you place a capital asset in service, Workday creates the depreciation schedule based on
the depreciation information on the asset.
Changes to depreciation profiles aren't retroactive. When you edit a depreciation profile, your
changes only apply to assets that you register after the change.
You can't delete depreciation profiles, but you can deactivate any depreciation profiles that
your asset book rules no longer use.