Configure Depreciation for CI

Configure Depreciation for CI

Calculate the decrease in CI value over time. Depreciation details will be displayed under Financials tab in CI details page.

From the CI details page:

  1. On the CI list view, click the name of CI to configure depreciation.
  2. The CI details page is displayed.
    1. Go to Financials tab and select Depreciation Details sub-tab.
    2. Click Configure Depreciation.
    3. Alternatively, you can also select to Actions > Configure Depreciation on the toolbar.
  3. Fill out the form displayed using the pointers below and click Save.
Field
Explanation
Purchase Cost
Enter the purchase cost of CI in your organization's base currency.
Acquisition Date
Select the date the CI was received.
Configure Depreciation
Use data configured for product - Apply depreciation configured for the CI model under Admin > Asset Management > Product.
For this asset - Configure depreciation specific to the CI by selecting a method to calculate depreciation.
  1. For declining balance and straight line methods, you can calculate depreciation based on the useful life of the CI or the decline percent per year.
  2. For double declining balance and sum of the year digit, you can only calculate depreciation based on the useful life of the CI.
  3. Specify the salvage value expected for the CI.
 

From the CI list view:

You can configure depreciation in bulk for CIs from the list view.
  1. On the CI list view, select your preferred assets.
  2. Go to Actions > Configure Depreciation on the toolbar.
  3. Select the method to calculate depreciation.
    1. For declining balance and straight line methods - You can calculate depreciation based on the useful life of the CI or the decline percent per year.
    2. For double declining balance and sum of the year digit methods - You can only calculate depreciation based on the useful life of the CI.
    3. Specify the salvage value expected for the CI.
  4. Click Save.


Depreciation will not be calculated for software and consumables.
You can configure depreciation for different products under Admin > Asset Management > Product. Learn more.  
On configuring depreciation for CIs created from assets, the corresponding assets will also be updated.

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