NOTE: This feature is only available in our Business Plus plan.

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.

TIP: Learn more about Useful Life and Depreciation of your Assets.

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

TIP: 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 to open the Overview page

  2. On the right-hand side, under Depreciation, you can view:

    1. Depreciation rate

    2. End of Useful life

    3. Current value of the asset

  3. Click on View Timeline to see a better breakdown of the depreciation rate!

NOTE: This feature is only available in our Business Plus plan.

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