How to Calculate and Track Asset Depreciation
  • Wavity makes calculating asset depreciation simple and efficient. The platform enables organizations to track the current book value of each asset and automatically calculate depreciation based on predefined methods and asset lifecycle data.
  • Note: The steps provided serve as sample instructions and can be customized based on specific requirements; however, the core workflow will remain the same.
  • Only users with agent have access to calculate asset depreciation within the Inventory.
  • Click on Inventory Management from Quick Links in Agent Persona.
  • Select the asset for which you want to calculate depreciation from the Inventory Management, and then click the Eye icon to view its details.
  • Navigate to the Depreciation tab, where details such as the asset's cost, depreciation type, and other related information will be displayed.
  • Enter the Cost of the asset in Cost field and select depreciation type such as Straight line or Declining Balance.
  • Enter the Life of Asset (e.g., 3 or 4 years) along with the Residual Value.
  • Enter the depreciation rate (in percentage) and click on the Calculate button to generate the current value.  
  • Based on the depreciation method and depreciation rate applied, the system will automatically display the current value of the asset.
  • After entering the details, click on the Save button to finalize the entry.