The depreciation process is the systematic allocation of an asset’s cost over its useful life. It reflects how the value of assets (like machinery, equipment, or vehicles) decreases over time due to wear and tear, usage, or obsolescence.
AssetsAdm streamlines and automates the depreciation process, ensuring accurate and timely accounting for asset value over time.
While scheduling depreciation, users can select the division, choose the applicable depreciation act, and define the start and end dates. Additionally, they can specify cost center-wise groupings, apply a custom depreciation rate, and add relevant remarks, as illustrated below.