Fixed Assets & Depreciation Schedule
A controller-level schedule for tracking asset balances and depreciation.
This schedule documents asset additions, disposals, and depreciation to support financial reporting and audit readiness. Think of it as the detailed inventory list for your company's long-term investments—items that you expect to use for more than a year, such as computers, furniture, vehicles, or machinery.
Template details
What's included
Fixed asset register: This acts as the master list or "birth certificate" for every major item the company owns. It tracks essential details like the asset ID, description, serial number, location, and purchase date, ensuring you always know exactly what you have and where it is.
Depreciation schedule by asset class: Depreciation is often misunderstood as a measure of physical wear and tear. In accounting terms, it is simply the process of allocating the cost of an asset over the time it is used. This schedule calculates that monthly expense, ensuring your Profit & Loss statement reflects the true cost of using the asset to generate revenue in each period (the matching principle).
Additions and disposals log: This section tracks the lifecycle of your assets during the year. "Additions" are new purchases, while "Disposals" are items you have sold, scrapped, or donated. Keeping this log accurate is critical for ensuring you aren't paying taxes or insurance on equipment you no longer own.
Useful life and method reference fields:
- Useful Life: This is the estimated time period that an asset will be productive for your business. For example, a laptop is typically expected to last 3 years, while office furniture might last 7 years.
- Method: This determines how the cost is spread out. The most common is "Straight Line," which spreads the cost evenly over the useful life.
Roll-forward summary: This is the mathematical proof of your asset balances. It starts with the value at the beginning of the year, adds new purchases, subtracts the value of items sold (disposals), and subtracts the depreciation expense to arrive at the ending balance. It ensures that the story of your assets flows logically from one year to the next.
Who it's for
- Controllers and senior bookkeepers: Professionals responsible for maintaining the accuracy of the balance sheet and preparing for year-end.
- Businesses with capital equipment or software: Any company that invests in long-term tools, technology, or infrastructure.
- Teams preparing for audits or tax review: Organizations that need defensible records to support their tax deductions and financial statements.
Outcomes
- Accurate depreciation entries: automated calculations that ensure the expense on your P&L is consistent and correct.
- Clear asset roll-forward support: A summary that proves to auditors and tax preparers exactly how your asset balances changed during the year.
- Cleaner year-end reporting: By maintaining this schedule monthly, you eliminate the scramble to find invoices and dates at tax time.
Suggested pricing
- $39-$69 standalone
- Bundle with controller or reporting packs
