The current asset depreciation is automatically calculated for you and simply requires the following information to determine the book value:
- Purchase Date
- Service Life
- Purchase Price
- Replacement Cost
- Salvage Value
1. Click on the Assets tab on the left menu bar.
2. The fourth column called Book Value will display the estimated value to-date of the asset.
If the current value is zero or seems inaccurate, follow the steps in the next section to verify that the asset's information is correct.
Take these steps to verify and update the relevant asset deprecation fields.
1. In the Assets tab on the left menu bar.
2. Click on the desired asset name.
3. Under the Financial Information section to the right, check that the highlighted fields below are filled with the correct information.
4. If any of the information is incorrect or incomplete, click the Edit button in the top right.
5. Change the fields below to contain the accurate Service Life and other financial information.
6. Click the Save button to update your asset's details.