Each asset can be depreciated based on the depreciation definition associated with it. Depreciation of an asset will be based on acquisition cost, acquisition date, salvage value, etc. The Asset Manager will perform these calculations for each asset and update the asset form. These calculations can be shown on the asset class sheet and asset summary sheet, and can be optionally rolled up to the company accounts sheet.
Note: Before you can create a depreciation schedule for an asset, you must populate the data set for the SYS Depreciation Name data definition. To do this, use the instructions under Adding and Managing Data Sets.
Depreciation calculation for an asset will be based on the selected method. The following methods are available:
- Straight line method
- Double decline method
- Sum of year digits
- Manual
Regardless of which method is used, depreciation for an asset will be calculated from the specified asset acquisition date to the end of the depreciation period.
These are the input parameters to calculate depreciation:
- Acquisition date
- Acquisition cost
- Salvage value
- Depreciation period
- Factor% (only for double decline method)
- Timescale units
Depreciation output values:
Output Value | Description |
|---|---|
Net book value | Book value of an asset as of a particular period |
Cumulative depreciation | Accumulated depreciation cost of an asset over a period of time |
Current period depreciation | Depreciation cost of an asset for a particular period |