NetAsset - Configure Depreciation Methods

NetAsset enables users to set up multiple depreciation methods. Depreciation Methods can be defined using a formula or a custom table.

The most common depreciation methods are included within the NetAsset bundle:

  • Straight Line
  • Non-Depreciating
  • Double Declining Balance
  • Usage Based

Any unused Depreciation Methods can be inactivated. Additional Depreciation Methods can be created by following the steps below. 

STEP BY STEP PROCESS

  • Navigate to NetAsset -> NetAsset Setup -> Manage Depreciation Methods
  • Select New to bring up the depreciation method setup page

  • Input the following information into the form:
    1. A name and description for the depreciation method
    2. The interval at which depreciation should be posted against the asset as well as calculated (Monthly, or Annually)
    3. One of the following:
      • A Depreciation Formula (see the Formula Help details below the field)
        • Optionally enter a different formula to use following a modification or the initial useful life has passed
      • A Depreciation Table with percentages that sum to 100%
  • NOTE: The # of periods on Depreciation Tables are assumed to match the Useful Life on assets where the Depreciation Method is used. If they differ, the number of periods on the Depreciation Table will override the Useful Life on the Asset.
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