The depreciation of fixed assets should be done properly to accurately reflect the value of the property, the cost in the financial statements. An important tool in this process, the main table is the allocation of depreciation of fixed assets (fixed assets). This article Accnet will provide detailed instructions on the template spreadsheet depreciation of fixed assets related to support the business.
1. Table allocation of depreciation of fixed assets is what?
Table allocation depreciation fixed assets are tables showing in detail the information related to depreciation of each fixed asset in business.
Role of the allocation of depreciation:
- Recorded details of the property value, some of the depreciation period ago, this accumulated.
- Track the remaining value of the asset to service management, business decisions.
2. Sample table of allocation of depreciation of fixed assets
2.1. Download template new table best
2.2. The content should be in the allocation of depreciation of fixed assets
Table allocation of depreciation need to specify the information related to fixed assets:
- Property name: the Name details of each property.
- Property code: Code unique identifier to manage.
- Original price: original value of the property as recorded in the books.
- Duration of use: useful Time of the property is often determined based on the law or special assets.
- Methods of depreciation: How to calculate depreciation as straight line, declining balance, according to the output.
Table allocation of depreciation of fixed assets should clearly express the information related to depreciation of assets in each of the states:
- Some of the depreciation period ago: Total depreciation expense was recorded in the previous period.
- Depreciation this depreciation Costs incurred in the current.
- Accumulated depreciation: the Total depreciation expense since the asset was put into use to the present.
- Residual value: the value of assets after deducting accumulated depreciation.
2.3. The process of allocation table depreciation of fixed assets
Step 1: Create a list of the entire fixed assets of the business, including:
- Property name.
- Property code.
- Original price.
- The duration of use.
- Depreciation method.
Step 2: Select the depreciation method in accordance with each type of property:
- Straight line method: Easy-to-apply, the most popular.
- Method declining balance: in accordance with property value decreases rapidly in the early years.
- The method according to the output: suitable for properties directly related to production.
Step 3: Use the formula corresponding to the depreciation method selected to calculate the depreciation expense:
- Straight line method: depreciation Expense in a period by the cost of the asset divided by the duration of useful life of the property.
- Method declining balance: depreciation Expense in a period equal to the residual value of the asset at the beginning of the period multiplied by the depreciation rate fixed.
- Depreciation method according to the output: depreciation Expense in a period equal to (the cost of the asset minus the salvage value) divided by the estimated production of the whole, then multiplied by real output during the period.
Step 4: Recorded costs in the allocation of depreciation of fixed assets according to the allocation rate for each department, unit/project to use the property.
Step 5: Synthesis of information recently collected, calculated to improve allocation table depreciation. Table structure allocation of depreciation:
- The property name, property code.
- Original price, duration of use, method of depreciation.
- Depreciation the accumulated depreciation, residual value.
- Costs allocated to each department.
3. The importance of the table allocation of depreciation in the management of fixed assets
Table allocation of depreciation of fixed assets provides overview of value, the condition of the fixed assets in business:
- Helps business identify assets which are to operate effectively, the property would need to liquidate/maintenance.
- Management depreciation accurate business forecasts, cost control related to fixed assets.
Table allocation depreciation contributes to:
- The account depreciation is allocated exactly to the parts or project, thereby determining the correct profit.
- Business support in preparing financial statements.
Table allocation of depreciation of fixed assets to help businesses evaluate the efficiency of use of fixed assets, from which:
- Detect the need for upgrades or shopping new property.
- Optimize resources, reduce waste in the process of operation.
4. Technology solutions for the process of allocation table depreciation
Using the software LV DX Asset to help businesses save time in the management of fixed assets with the function:
- Automatic calculation of depreciation under different methods, in accordance with each type of property.
- Track details from the original price, time use, the accumulated depreciation to the residual value.
- Easily create reports to allocate depreciation according to states, serves for internal management and financial reporting.
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Article on brought to detailed information about the allocation of depreciation of fixed assets, at the same time provide practical solutions to business application. Let's modernize the process of spreadsheet depreciation of fixed assets of you today by experiencing the software, LV DX Asset.
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