Depreciation is a process of deducting the cost of an asset over its useful life. Assets are sorted into different classes in Assetminder called Asset Types and Asset Subtypes, and each can have its own useful life. Depreciation is calculated using the straight line depreciation method.
1. To configure depreciation for an asset type or subtype, click the Administrator Settings icon on the home screen
2. Click Enterprise
3. Click Financial
4. Click Asset Depreciations
5. Scroll down on the page to see existing asset depreciation settings
6. To add a new asset depreciation method, fill in the 3 required fields and click Save. In this example, all low loaders will be written down over 4 years.
7. Repeat as needed for all other asset depreciation types.