Depreciation
Depreciation that posts itself, with every period kept
Assign a depreciation schedule to each asset and Silosset posts the write-down on time. Every period stays on the asset, so its book value can always be traced back to cost.
Four methods, set up once
Create schedules with the method and useful life your policy calls for, then assign them to assets. Silosset supports straight line, declining balance, sum of the years' digits and units of production.
Runs on a schedule, not in a spreadsheet
A depreciation automation runs daily, monthly or yearly and follows your organisation's fiscal-year start. The people who need to know get a notice when it has run.
Carry on from where your books are
For assets you already own, enter the accumulated depreciation brought forward as an opening balance. Silosset continues from that value instead of starting again at cost.
Forecasts and schedules for finance
The financial report forecasts depreciation for the next 12 months. The depreciation schedule exports to Excel for your accountants and auditors.
Questions
Something else? Ask us.
Which depreciation methods are supported?
Four: straight line, declining balance, sum of the years' digits and units of production. Each asset follows the schedule assigned to it.
Does depreciation follow our fiscal year?
Yes. Set when your fiscal year starts in the organisation settings, and runs and reports follow it.
Can we see past periods?
Yes. Every period posted is kept on the asset, with the value carried at the time, and the full schedule exports to Excel.
Related features
Or see everything Silosset does.
Financial reporting
Book value, cost and write-downs over time, in your currency and fiscal year.
Read more about financial reporting
Reports and exports
Summary, operational and upcoming reports, and Excel exports your auditors can work from.
Read more about reports and exports
Asset tracking
One register for every asset, with QR labels, locations, custom fields and a full history.
Read more about asset tracking
See your own assets in Silosset
Create an organisation and register your first assets today, or talk to us and we will walk you through it with your own register.