A continuity schedule report is a valuable instrument to view monthly asset activity. It shows your opening balance at the start of the accounting period, monthly transactions and then the closing monthly numbers. This report can be run for a single period, quarter, multiple periods or an entire calendar year. On this report the additions can be both new acquisitions as well as assets that have been transferred in. The disposals column represents disposals and also transferred out assets.
This report shows four columns for the depreciable basis and another four columns for accumulated depreciation over one of more accounting periods. Here are the columns of the report:
- Assets Opening Balance – cost of acquisitions from previous periods
- Additions – new assets acquired during the reporting period(s)
- Disposals – dispositions during the reporting period(s)
- Assets Closing Balance – assets opening balance plus additions minus disposals
- Accum Dep Opening Balance – amount of depreciation calculated from the service date through the previous accounting period
- Additions – amount of depreciation in the current accounting period or periods
- Disposals – amount of any disposals
- Accum Dep Closing Balance – opening balance
In addition, this report includes columns for system asset number, asset description and net book value at the close of the selected accounting period. It is also common for this report to be sorted and grouped by general ledger code, asset class or branch within organization. A summary version is useful to view just the totals and suppress the asset detail.
This is very similar to a “roll forward” report and gives a nice snap shot of asset changes during the selected period(s). In an advanced continuity report, the additions and disposals columns are further separated to break out transfers into their own columns. Bassets eDepreciation features all three variations of this data in the form of a roll forward, continuity schedule and advanced continuity schedule reports to answer all activity inquiries.
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More information about Bassets eDepreciation software can be found at Bassets.net or depre123.com. At Bassets register for our live webinar, download a free evaluation copy and get a personalized pricing estimate. At depre123 try out our Free Depreciation Calculator and check out our cloud based fixed assets application.