What must be done each time depreciation is run?

Selecting a date range for the report is essential each time depreciation is run because it defines the specific period for which you want to calculate and report depreciation expenses. Without specifying the date range, the system may not properly account for the assets' values and their respective depreciation over time. This selection ensures that the report reflects accurate information pertinent to the chosen timeframe, allowing for better financial analysis and compliance with accounting standards.

The other options do not represent necessary actions each time depreciation is processed. For instance, reconfirming asset purchase dates is not a routine requirement during depreciation calculation, as those dates should already be accurately recorded in the system. Reviewing outstanding purchase transactions is more about managing procurement rather than affecting depreciation calculations. Adjusting the closing value column settings may be relevant in certain contexts, but it is not a mandatory action for running depreciation consistently. Therefore, establishing the date range is critical for accurate reporting and effective asset management in Xero.