Asset Depreciation

This article explains how to depreciate fixed assets in Qoyod, the types of depreciation periods, and how the automatic calculation works based on the asset’s receipt date.

Path in Qoyod

Fixed Assets › Depreciation › Add Depreciation

What Is Depreciation

The expenses resulting from the use of an asset over its useful life. It is the decrease in the asset’s historical value due to use.

Steps

1. From the “Fixed Assets” dropdown menu, click “Depreciation”.
2. Click “Add Depreciation”.
3. Select the depreciation type: “Recorded Depreciation”.
4. Fill in the data (see the next section).
5. Click “Save”.

Required Fields

• Reference Number: filled in automatically.
• Asset Category: select a specific category or all categories.
• Asset Name: select a specific asset or all assets.
• Depreciation Period Type: daily, weekly, monthly, or yearly.
• Period: depends on the selected depreciation period type.

Automatic Calculation Logic

• If the asset is received within the specified depreciation period: depreciation is calculated from the asset’s receipt date (depreciation start date) to the end of the period.
• If the asset is received before the depreciation period: depreciation is calculated based on the full days in the depreciation period.

Depreciations Page

After saving, the list of recorded depreciations appears. You can search by:

• Reference number.
• Depreciation type.
• Depreciation start date.
• Depreciation end date.

Available Actions

• View Depreciation: review its details.
• Delete Depreciation: delete the recorded depreciation.