Automated Fixed Asset Register and Fixed Asset Schedule
Originally published: 01/10/2021 08:12
Publication number: ELQ-94644-1
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Automated Fixed Asset Register and Fixed Asset Schedule

Automated Fixed Asset Register and Fixed Asset Schedule in Excel

This Template automate the calculation of Periodic Depreciation Charge,Accumulated Depreciation and Carrying amount of Individual Assets no matter the number of assets involved.

It also auto generates fixed asset schedule for reporting purpose. It flexible to accommodate more asset category as the user desires.

The Template allow for periodic calculation of Fixed Asset cost analysed into:
Opening Balance
Closing Balance

Also, for the movement in the accumulated depreciation categorised into:
Opening Balance
Closing Balance

KEY Inputs are:
Cost of the asset
Scrap value (if any)
Depreciation rate; useful life,
Asset disposal date
Disposal of asset proceed,
Selling expenses (if any)

The model was developed to offer the following maximum benefit to users:

* Flexible Accurate and Simple Fixed Asset Report Automation
* Recording of Asset Acquisition, Addition and Disposal during the month and year
* Asset Carrying Value Computation
*Automated Calculations of Gain or loss on Asset disposal
*Periodic Fixed Asset Schedule for Financial Reporting
*Automated Accumulated Depreciation Calculation
*User Friendly
*Data Input Validation to ensure data integrity
*Limited User Input
*Collaborate on Excel Online/Excel for the Web
*NO VBA/Macro

The Excel file is compatible with Excel 2007 and above and also with Microsoft 365.

The use of Table structure Reference is adopted to optomize the model.

This Best Practice includes
1 Excel file

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