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 PassportTake 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 DepreciationUse Passport to calculate all methods of computing depreciation such as straight line, double declining, and sum of all years.
Configure your own Depreciation MethodWith Passport, configure your own depreciation method code with depreciation method name and formula for customized reporting.
Use Effective Variables to Configure Your MethodUtilize 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