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Make sure that the Initial Cost column shows the initial cost of the fixed asset.
In the The Depreciation Method column shows one of the following available depreciation methods that was assigned to the fixed asset:
- Straight Line: To calculate depreciation in equal monthly amounts during the fixed asset useful life.
- Units of Production: To calculate depreciation amounts proportionally to actual usage of the fixed asset.
The Useful Life (Months) column (available for the Straight-Line method) is populated with the number of months the fixed asset is being planned to be used.
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The Department column shows the department or warehouse to be linked to the depreciation costs and usage of this fixed asset. If neededyou need, you can change the department.
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