Monthly Asset Depreciation Report

This article is relevant for version 17.5.1 and above.

Monthly Asset Depreciation report, will be useful for financial planning, tax purposes, and decision-making. The report will help you determine when an asset might need replacement or refurbishment, as well as understand the overall financial health of your hotel's asset portfolio. 

Asset Depreciation Data Input

Only the users who have asset ‘Edit’ or permissions above  can input the depreciation data.

1 Navigate Assets > Asset List, click the required item to open the View/Edit Asset page.

2  Switch to Purchase, Life & Costing tab.

3 Input the asset depreciation data for the item.

              Request Type - Mandatory when value have data

        

       Financial category - The Financial Category attached to the asset (Not mandatory)
The financial category is mainly used to group the assets in terms of financials and generate reports. For example Monthly Depreciation. The drop-down list here will display all the financial categories created on Admin > Admin Tables > Financial Category.

       Depreciation Start Date - Date at which depreciation start date or purchase date.

       Initial Depreciation Value - Cost to be use for depreciation calculation (Purchase cost) before the start FY month.

       Maximum Depreciation %- Percentage of assets to be taken for depreciation.
By default, it is 100% for most of the items. But for some items like a building, it can be depreciated at 80% of its purchase cost.

       Annual Depreciation % - Annual depreciation percentage.
For example, all electrical assets depreciate at 15%. Building depreciates in 26 Years, should enter 3.846153846% ((1/26)*100).

       Disposal Date - Date at which disposal happens (Input only when it is disposed)

       Disposal Value – Value of the disposal (Input only when it is disposed).

       Depreciation comments – Enter the depreciation comments  (Not mandatory)

​

Monthly Asset Depreciation Report

The purpose of this report is to generate detailed and summary reports related to asset depreciation by month. It is visible only for users with Reports ‘Open’ permissions. 

To check the report, navigate to Reporting > Monthly Asset Depreciation Report

Users can view the report by the given filter criteria (), and can be able to print () and export it into Excel ().

Note:

- Refer to the attachment for the sample report and more details on the definition/formula of each column and how the report is grouped and sorted.

-By default, the reporting period is from the FY start month to the month before the current system month. For example, if the current month is November, the Depreciation report will run until  October 2023. Users can change it by clicking  . 

-The report will show all assets irrespective of any asset condition with the below exceptions. 

     *Assets with no initial depreciation value, no depreciation starting date, or no annual deprecation % will not appear on the report.

     *Assets with an Initial Depreciation Start date AFTER the month-end date will not appear on the report.

     *Assets with a disposal date PRIOR to the start of the financial year will not appear on the report. 

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