Track pertinent metadata about your asset. In addition to a description, you can store other key information such as an accounting ID from your accounting system, the serial number, its purchase date, service date, location, which employee has it in their possession (if applicable), and of course, the asset’s purchase price.

Store links to photos or any relevant documents pertaining to your asset, such as invoices, maintenance records, warranties, operating manuals, etc.

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Create what-if scenarios for asset depreciation with commonly used GAAP depreciation methods: Straight-Line, Declining Balance, Sum of Year’s Digits, and Units of Production..

1. Select a depreciation method by clicking on the method dropdown menu.

2. Enter the estimated salvage value of the asset at the end of its useful lifespan.

3. Enter the ‘Useful Life’ in number of years.

4. Click ‘Populate Schedule’

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The ‘Depreciation by Year’ graph displays the cumulative depreciation for each calendar year. This information will adjust depending on the depreciation method used for each asset. The range of years are determined by the earliest year an asset was put into service and the maximum year based on the useful life of your assets.

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