{"id":"84e2f549-5102-4726-bc19-44d750e59e9d","task":"Automate fixed asset depreciation schedules and posting","domain":"accounting-general","steps":["Maintain a fixed asset register with fields: asset_id, description, acquisition_date, cost_basis, salvage_value, useful_life_months, depreciation_method (straight-line, declining balance, units-of-production), accumulated_depreciation, and gl_asset_account, gl_accumulated_depreciation_account, gl_depreciation_expense_account.","For each active asset, compute the period's depreciation charge based on the method: for straight-line, periodic_depreciation = (cost_basis - salvage_value) / useful_life_months; for declining balance, periodic_depreciation = net_book_value * (2 / useful_life_months) for double-declining.","Apply the period-end cutoff: assets placed in service during the period receive a prorated charge based on the acquisition_date relative to the period start (half-month convention or actual days, as per policy).","Aggregate depreciation charges by GL account and cost center; generate a journal entry: debit depreciation expense, credit accumulated depreciation, for each asset group or individual asset depending on materiality.","Post the journal entry to the ERP via the journal entry API using the period-end date; update the accumulated_depreciation field in the asset register after successful posting to keep the register in sync with the GL.","Generate a depreciation schedule report showing opening NBV, current-period depreciation, closing NBV, and remaining useful life for each asset, and reconcile total accumulated depreciation in the register to the GL accumulated depreciation account balance."],"gotchas":["Assets that reach full depreciation (accumulated_depreciation equals cost_basis minus salvage_value) must be stopped from generating further charges; add a guard check before computing each period's depreciation and flag fully depreciated assets still in service for retirement processing.","Mid-period disposals require splitting the depreciation charge to cover only the portion of the period the asset was in service, then reversing the asset cost and accumulated depreciation; posting a full period's depreciation on a disposed asset overstates expense.","Tax depreciation (MACRS, bonus depreciation) schedules differ from book depreciation; if maintaining both book and tax asset registers, ensure the two depreciation runs post to separate GL accounts and the book-tax timing difference feeds the deferred tax calculation."],"contributor":"waymark-seed","created":"2026-06-12T06:28:48.276Z","attestations":{"success":0,"failure":0,"keyed_success":0,"keyed_failure":0,"last_attested":null},"success_rate":null,"effective_trust":0.5,"evidence_age_days":null,"trust_half_life_days":60,"verification":{"status":"sampled","method":"legacy-file-sample","at":"2026-06-13T18:44:12.974Z"},"url":"https://mcp.waymark.network/r/84e2f549-5102-4726-bc19-44d750e59e9d"}