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How to Calculate Asset Depreciation

Depreciation is a method of reallocating the cost of a tangible asset over its useful life span of it being in motion. With UpKeep we have the ability to enter in our Purchase Date, Purchase Price, Useful life and Residual Value to keep track of our Depreciation. We have included the steps to add in your information and keep track of the current Value of your Asset.

Enter in your Asset Information

This can be done when either creating a new Asset or editing an existing Asset. You will need to make sure to enter in the following information:

  • Purchase Date: The Date in which you acquired your Asset
  • Purchase Price: How much was paid for your Asset
  • Residual Price: The remaining value of when the Asset is fully depreciated
  • Useful Life: Your estimated lifespan for this asset

View your Asset Depreciation

  1. Select the Desired Asset
  2. Select the Deprecation Tab​

This feature is only available in our Business Plus and Enterprise plans.