If the value of an asset in the AutoRec Depreciation Module changes and you’d like to make an update to the overall cost, you can add an Adjustment.
Adjustments can be made on the Assets tab by clicking on the plus symbol under the Adjustments column:
After making the Adjustment, you can click on the Asset ID to view the Adjustment Description:
If you need to edit or delete the Adjustment, you can do so by clicking on the pencil icon next to the Adjustment amount on the Assets page:
Frequently Asked Questions
Q: Does FloQast create a Journal Entry for the adjustment?
A: No; the assumption is that the JE was already booked by your internal team processes.
Q: Can you make more than one Adjustment to a single item?
A: Not in the same period. If multiple Adjustments are made to the same item in the same period, you can combine them all into one lump Adjustment and provide as much detail as you need to in the Reason section.