Calculating depreciation

Calculating depreciation updates the book value of your depreciating assets as of a date you choose. Run it whenever you need current values — for month-end, year-end, or a finance report.

Before you begin

• Calculate Depreciation must be enabled for your role. If it’s missing from the Actions menu, ask your administrator.
• Assets only depreciate if they have a depreciation method, a purchase cost, and a depreciation begin date set. Define methods under Lookups → Depreciation and assign them to assets or asset types first.
• This runs in one pass across every asset you have permission to access — not a single asset you pick. If your role is restricted to certain sites or assets, only those are affected; an administrator with full access will touch the whole asset base.

Run depreciation

1. Open Actions → Calculate Depreciation.
2. Choose the date to calculate depreciation through. Wasp Asset shows when depreciation was last calculated so you can see how far forward you’re bringing it.
3. Click Calculate Depreciation. A progress indicator shows the calculation running across your assets — let it finish before leaving the page, or click Cancel to stop the run partway through.
4. When it finishes, each depreciating asset’s book value is updated as of the date you chose.

Caution

Calculating depreciation updates book values across every accessible, eligible asset at once, using the date you pick. Choose the date carefully — running it through the wrong date will restate values across your asset base. Pick a date that isn’t earlier than the last calculation unless you specifically intend to recalculate.

Note

Only assets that have a depreciation method set will change. You define methods under Lookups → Depreciation, and assign them to assets or asset types. Assets without a method are simply skipped.

Print a depreciation report

After calculating, you can review the results:

1. Under Print Report, choose a depreciation report from the list.
2. Click Run Report to open it, then review, print, or export the book values.

Tip

Run depreciation before pulling any finance or valuation report so the numbers reflect the latest values rather than the last time it was calculated.

Troubleshooting

• “No assets to depreciate.” None of your assets have a depreciation method assigned, or none are eligible for the date chosen. Assign methods under Lookups → Depreciation and confirm assets have a purchase cost and begin date.
• An asset’s value didn’t change. It’s likely missing a depreciation method, is already fully depreciated, or its begin date is after the date you calculated through.
• The report list is empty or won’t run. Choose a depreciation report from the Print Report list first — Run Report stays disabled until one is selected.
• The calculation seems stuck. Large asset bases take time. Wait for the progress indicator to finish rather than re-running it.

Related

• Depreciation lookups — set up depreciation methods
• Asset details — see an individual asset’s depreciation settings and book value
• Reports — pull valuation and finance reports