Asset depreciation reporting is used to spread the cost of an asset over its useful life, resulting in adjustments to its book value and providing a depreciation expense. Depreciation results are required for a company's accounting and tax purposes.
Asset Depreciation with Passport
Take advantage of Passport for asset management to calculate the depreciation of an asset over its useful life, and reporting adjustments to its book value and depreciation expense for auditing purposes.
Utilize Methods of Asset Depreciation
Use Passport to calculate all methods of computing depreciation such as straight line, double declining, and sum of all years.
Configure your own Depreciation Method
With Passport, configure your own depreciation method code with depreciation method name and formula for customized reporting.
Use Effective Variables to Configure Your Method
Utilize available variables, sub-methods, and definitions such as cost, scrap value, years to depreciate, book value, depreciation reporting period, prior accumulated depreciation values, and depreciation year to date.
Depreciation Method and Reporting Capabilities
Built-in standard depreciation methods and reporting
Ability to create custom depreciation methods and reports
Full control of all aspects such as calculating daily, monthly, yearly
User configurable to the data collection fields you need
Full reporting via the report wizard