How to deprecate an asset?
- Click on “Finance” from the main dashboard.
- Click on “Assets”.
- Click on “Add Asset” at the top right of the page.
- in the “Asset Deprecation” section fill the required details as below:
- : Enter the date of running the asset to start the deprecation account.
- : Enter the end date of the deprecation account.
- : select the way of the deprecation as below:
- Fixed Amount: This deducts fixed value from the asset when the deprecation starts. Enter the values as below:
- Period: Adjust the period that the deprecation calculates within periodically by entering the number and select what this number means such as months, days, or weeks.
- : Enter the fixed value of the deprecation that will be deducted from the asset periodically.
- Percentage: This calculates the deprecation value as a percentage from the asset current value to be deducted from the deprecation time.
- Period: Adjust the period that the deprecation calculates within periodically by entering the number and select what this number means such as months, days, or weeks.
- : Enter the percentage value that will be deducted from the asset periodically.
- Fixed Units: This selects the maximum number of units that the asset will be deprecated with.
- : Enter the cost value that will be deducted when the asset consumes one unit.
- : Enter a distinctive name for the unit that the asset deprecation will be calculated with.
- : Enter the total number of the units that the asset will be deprecated after.
- Fixed Amount: This deducts fixed value from the asset when the deprecation starts. Enter the values as below:
Note: The fixed amount deprecation method cannot be applied automatically on the asset so that it requires calculating the deprecation value and adding it manually in the asset’s file, for more info, please review the “Manual Asset Deprecation” tutorial.