Is it possible to depreciate the asset on monthly basis automatically through ERPnext.
I am developing Fixed Asset Depreciation feature, but the design is on yearly basis. Can you please let me know for which category of assets depreciation happens monthly-basis?
@nabinhait since user do monthly accounting report, i believe it will be better to do monthly basis for fix asset depreciation instead of yearly for all kind of fix asset.
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@HapDorji you have a Typo in the title of this topic (Deoreciation instead of Depreciation).
So, no one who might be searching this forum for Deprecation can find it.
Would you (or anybody else who has the ability) mind to correct that?
@nabinhait The depreciation of the assets is on yearly basis which is divided on to monthly basis and then on daily and weekly basis. Daily and weekly basis is used where the organisation asks for informal reports on random day or on weekly basis.
Please do make sure to include the option whether to depreciate the asset on the month of purchase or not as some companies do depreciate it in the month they bought the asset (for them the daily depreciation will work) and some dont and start derpreciating it from the next month.
Also include the straight line method depreciation and reducing balance method of depreciation
In current design, you can define the “Useful Life” of the asset in years. And system will pass depreciation entry on purchase date or from the same date on the next year. It is not on a fixed date in a given year.
And the straight line and double-declining method will be included in the first version.
Hi @nabinhait,
In order to be useful for the yearly report to the tax authorities, the depriaciated value should be calculated at the end of the financial year. For example in NL one may depreciate assets over 5 or 3 years. If i buy a computer on 1.6.2015 for euRO 1000 and depreciate over 5 years i have to report the value on 31.12.16 as 1000 minus the depreciation over the six month so 1000 minus 100 is 900. Hope this can be calculated. rgds robert
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I have changed the design to handle monthly depreciation.
@becht_robert It should be possible if you set monthly depreciation.
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Great job Nabin! Monthly depreciation is definitely better
Cheers!
Kind regards,
Olawale
Dear sir
Is Asset management module available in ERPnext.
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great, thanks
Will the Fixed Asset module give a possibility to show accumulated depreciation in the Fixed Asset part of Balance Sheet and Trial Balance? Currently, the Stock Reconciliation decreases fixed asset value by the depreciated amount and increases depreciation costs in TB. It would be essential to have an accumulated depreciation section i BS.
And we are waiting for the Fixed Asset module release, as it will significantly simplify the Fixed Asset accounting process. 
Yes, there will be separate accounts head to maintain “Accumulated Depreciations”.
Good job and thanks for your effort, when this module will be ready?
where I can this feature?
In version 6, we use warehouse in booking assets, say for example, we are using warehouse OEF.
And also, some assets we are using are with same Item Code as our Stock.
In V7, do we need to create new item for us to use the depreciation module even though we already have same item code in stock item?
Like for example, we are selling ITEM A.
And also, we are using some ITEM A as our asset.
Do we need to create new ITEM for this asset?
Thank you…
@nabinhait thanks for the clarification about changing the ERPNext design to handle monthly depreciation.
Kindly help out point to the place in the ERPNext system where I can do the monthly depreciation setting so that system will allow me see the monthly depreciation amounts, because currently, I am only able to see once-a-year figures.