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Fixed Asset Manager – Depreciation Calculator

  • Line wise SLM and WDV Depreciation Calculator as per Schedule II of Companies Act 2013,
  • Calculation of Depreciation under the Income Tax Act.
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Fixed Asset Management Tool with Depreciation Calculator as per Schedule II



Fixed Asset Manager Options


Key Features

  • Line wise SLM and WDV Depreciation as per Companies Act 2013,
  • Calculation of Depreciation under the Income Tax Act,
  • Export of Tax Audit Data for Additions and Deletions during the Year,
  • Monthly Calculation for MIS,
  • Jan-Dec Calculation for Group Reporting by MNCs,
  • Direct Import of Fixed Assets Data from Tally,
  • Single click change of Financial year,
  • Ready made Schedules for Balance Sheet, and P&L,
  • A simple Copy/Paste is required to Migrate data from Old Fixed Asset Records.

Fixed Asset Manager Report 1

Expert Features

  • Calculation for Extra shift Charge,
  • Users can customize the Useful life, and can change it to their best estimates,
  • Users can customize the Residual value too,
  • There is Calculation for Profit/loss and Capital gain on sale of Assets.

Knowledge Base

  • Depreciation is systematic allocation of the depreciable amount of an asset over its useful life. Further, 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. Companies can make calculation based on the useful life of an asset supported by technical advice, even though such lives are higher or lower than those specified in the said schedule. In view of this, calculation as per the useful life is true commercial depreciation bringing the financial statements prepared in accordance with international standards.
  • The Methods of calculation available are:
    • Straight Line Method – The asset is depreciated equally every year over the useful life of the asset 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 as opposed to the later years of their life.
    • Unit of Production Method – The depreciation on an asset can be provided, where appropriate, on the basis of the units expected to be obtained from the use of the asset. The calculation is based on output capacity of the asset rather than the number of years.
  • There are four inputs required to calculate depreciation – Useful life, Residual value, Depreciable Amount, Ready to use Date.
  • Want to know more about Depreciation Accounting?
  • ICAI Guidance Note on Depreciation Accounting in India

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