In this article, you will learn about the process of rolling over the Depreciation Worksheet each year.

You are unable to rollover the Depreciation Worksheet from the previous year if you have not taken up the new depreciable assets into the Depreciation Worksheet purchased in the previous year.

Automated Rollover of Depreciation Worksheet

Class automates the rollover of Depreciation Worksheets each year once a year is marked as Closed in the Period Update screen which is why it's important to Close the Financial Year once the accounts are finalised.

If you need to Reopen a Financial Year Class will automatically rollback the Depreciation Worksheet.

Manual Rollover of Depreciation Worksheet

Despite Class automating the Rollover process, you have the option to manually rollover the Depreciation Worksheet if you wish.

This function is mainly available for Class Portfolios in the event that it has been decided not to complete Period Updates each year nor close financial years. 

Navigate to Fund Level > Investments > Depreciation Worksheet

You can toggle between different years to see Depreciation Worksheets for those years and if you need to, you can select Rollover From FY20XX to manually complete a rollover.

Where a Financial Year has been closed certain buttons will be disabled

What's Next?

Learn how to capitalise additional capital purchases for the property, New Fixed Asset.