Fixed Assets Manager

SLM and WDV Depreciation calculator as per Companies Act, and Income Tax Act. Also helpful in managing Fixed Assets.

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SLM / WDV

Line-wise SLM and WDV depreciation calculator as per Companies Act, Blockwise Depreciation Calculator as per Income Tax Act.

Monthly Calculation

Monthly Calculation of Depreciation for MIS Reporting, Jan-Dec Calculation for Group Reporting by Multi-National Companies.

Change Year

Change the Financial year along with depreciation calculation. Set a Migration Date and easily migrate data from old Fixed Asset Records.

3CD Data Export

Export of Tax Audit Data for Additions and Deletions during the Year.

FAR Export

Export of all Fixed asset data in a single sheet to share with other users.

Tally Import

Direct Import of Fixed Assets data from Tally Prime & ERP 9.

Sale of Asset

Calculation of Profit/loss and Capital Gain on Sale of Assets.

Customisation

Users can define Useful life and Residual value to best estimates.

Ready Schedules

Ready-made Schedules for Balance Sheet and P&L.

Frequently asked questions

To calculate depreciation, you may be calculating the difference between two dates. Please make sure to increase the difference by “one day”. For example, when calculating the difference between a financial year (01-April-2021 to 31-March-2022), excel gives the answer as 364 days but we know it should be 365 days.

Also, when the difference between two dates is more than one year then the Tool calculates the difference between those dates based on the number of “completed years”. Only the fractional part is calculated based on the number of days.

ICAI guidance note uses a compounding formula to calculate the rate of depreciation as per the WDV method. The tool uses a similar compounding formula to calculate depreciation as per the WDV method, whose example can be seen here. If you don’t use the compounding approach, there will be differences in your calculations and the calculations as per the tool. Also, the asset’s residual value at the end of its useful life will not be accurate if you don’t use the compounding approach.

Depreciation as per Companies Act is the systematic allocation of the depreciable amount of an asset over its useful life. There are four inputs required to calculate depreciation – Useful life, Residual value, Depreciable Amount, and Ready to use Date.

Useful life is the period over which an asset is expected to be available for use by an entity. Schedule II to the Companies Act, 2013, specifies useful lives for this purpose. Calculation as per the useful life is true commercial depreciation bringing the financial statements prepared according to international standards.

Users can make calculations of depreciation as per the Companies act based on an asset’s useful life supported by technical advice, even though such lives are higher or lower than those specified in the said schedule.

The Methods of calculation of depreciation as per companies act are:

Straight Line Method – The asset is depreciated equally every year over the asset’s useful life as a percentage of the Initial Cost. Depreciation is calculated for a year and proportionately adjusted if used for less than a year.

Written Down Value Method – The method distributes the asset depreciation unevenly throughout its life. It books higher expenses in the early years as assets have higher productivity and carrying value in earlier years instead of the later years of their lives.

Unit of Production Method – The depreciation on an asset can be provided, where appropriate, based on the units expected to be obtained from the use of the asset. The calculation is based on the output capacity of the asset rather than the number of years.

Get It Now

Choose the most appropriate plan that meets your requirements.

Pro

₹2,999

₹1,999

1 Year, 1 PC

  • Tally Data Import
  • Access to all the Assets
  • FAR Export
  • Change Financial Year

Plus

₹4,499

₹2,999

1 Year, 5 PC

  • Tally Data Import
  • Access to all the Assets
  • FAR Export
  • Change Financial Year

Pro

₹8,999

₹5,999

Lifetime, 1 PC

  • Tally Data Import
  • Access to all the Assets
  • FAR Export
  • Change Financial Year

Plus

₹13,499

₹8,999

Lifetime, 5 PC

  • Tally Data Import
  • Access to all the Assets
  • FAR Export
  • Change Financial Year

Reviews

5.00 out of 5 stars

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  1. Reviewer profile image
    5 out of 5

    Ashutosh Garg

    Best tool for Depreciation calculation for companies act and also good for maintaining asset records.

  2. Reviewer profile image
    5 out of 5

    Sriram CA

    Nice product

    Best for reporting and calculating depreciation working and fixed assets register maintenance as per companies act as well as income tax. Very simple to use.. Thanks !!

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Fixed Assets Manager

Fixed Asset Manager, Depreciation Calculator
Fixed Asset Manager, Depreciation Calculator
Fixed Assets Manager

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