Depreciation is a process of deducting the cost of an asset over its useful life. Assets are sorted into different classes in Assetminder called Asset Types and Asset Subtypes, and each can have its own useful life. Depreciation is calculated using the straight line depreciation method.
1. Click the Administrator Settings icon on the home screen.
2. Click Financial.
3. Click Asset Depreciations.
4. Scroll down on the page to see existing asset depreciation settings.
5. To add a new asset depreciation method, fill in the 3 required fields.
6. Click Create NEW.
7. Click Save and Exit.
7. Repeat as needed for all other asset depreciation types.