Create permit amortization entries

This is a periodic process that can be performed at whatever frequency is deemed appropriate. It amortizes (expenses) the cost of active permits for the specified company, generating accounting entries. The total amount that will be amortized is the difference between the cost of the permit and any bill-back amount. If the bill-back amount is equal to or greater than the permit cost, amortization will not take place.

1. At the EMMS main menu, select Equipment | Permit Processing | Create Amortization Entries. The Create Permit Amortization Entries screen appears.
2. Fill in the fields as required.

   Companyis the company the amortization entries are for.

   Permit Amortize Dateis the date for which the permits will be amortized. This cannot be a future date.

3. Click Enter. The Confirm prompt appears.
4. Click Confirm. The amortization is processed and you return to the menu.
   • The amortization is calculated from the permit effective date or the last amortization date to the requested amortization date. The number of days between these dates and the number of days the permit is in effect form the factor that is applied to the amortizable amount to give the current period's amortization amount.
   • If a unit is sold at the time of the amortization run, the permit is cancelled effective on the disposal date, if it exists, or the amortization date. If a cancellation date was entered manually on the permit, it will not be replaced. See the accounting entry table in the 'Accounting' section for special accounting that applies.
   • The amortize permits function checks to see if a unit is disposed of. If it is, then the program will write off the rest of the expense to a special account type - PD. If PD is not set up, Enrich uses the regular PE account (for permit expense).
   • When the amortization function finds a permit expired, it checks for a PX account to write off the rest of the expense to. If the PX is not set up, Enrich uses the regular PE account.

Back to Permits