Auto Depreciation Overview
Auto Depreciation is the diminishing in the value of assets. Essentially, when you purchase a depreciating asset it permanently decreases in value as it is lifecycle progresses and overtime the economic value of the asset will be depreciated to zero. Accordingly, SapphireOne has the functionality to account for this process automatically via the Auto Depreciation function.
The SapphireOne Auto Depreciation feature will create the transactions required for the selected depreciation schedule, for the current period on all assets in the database.
- For the Primary Method in the example, (Tax rate), transactions will be created in Assets and then transferred to Financials where the appropriate General Ledger journals will be created.
- For the Secondary Method in the example, (Company rate) transactions will be created in Assets and no further action will be taken on them.
Dictation and Speech to Text Overview
SapphireOne’s Dictation (MacOS) and Speech to Text (Windows) functionalities revolutionise data entry. These features are available for any data entry field and all inquiry screens within SapphireOne. For instance, when a user makes a call via the SapphireOne Softphone, SapphireOne automatically timestamps the contact and phone number. Post-call, users can dictate notes directly into the CRM contact memo field in relation to the stamp.
This functionality is applicable across all Data Entry screens. As examples, when entering a Vendor Invoice (VI), users can dictate memos directly. Similarly, additional lines can be added to the General Ledger account, with each line having a unique memo field. After an employee interview, users can efficiently dictate notes.
Speech to Text and Dictation are powerful tools that SapphireOne and its clients use daily, significantly saving time.
SapphireOne as seen above will select the Depreciation rate only to run this Asset Depreciation function on. The user must remember to also select the Company depreciation option to tell SapphireOne to run that depreciation process as well.
All purchases, disposals and the recording of asset movements and adjustments should be completed prior to selecting this option.
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