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How to Calculate Asset Depreciation

Depreciation is the method of reallocating the cost of a tangible asset over the span of its useful life. Business Plus users have the ability to add the Purchase Date, Purchase Price, Useful life and Residual Value to keep track of Depreciation! We have included the steps to add in your information and keep track of the current Value of your Asset.


How to Enter your Asset Information

You can add this information when creating a new asset or editing an existing one! Make sure to enter the following information (these fields are needed to calculate depreciation):

  1. Purchase Date: The Date you acquired or purchased this Asset
  2. Purchase Price: How much you spent on this Asset
  3. Residual Price: The remaining value of when the Asset is fully depreciated
  4. Useful Life: Your estimated lifespan for this asset

You can also add this information when importing your assets (Columns K, M, O & P).


How to View your Asset Depreciation

  1. Click on the Desired Asset
  2. Then, select the Deprecation Tab​

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