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DepreciationWorks® is an effective tool for businesses, nonprofits, and governmental organizations having depreciation computations, schedules, financial statement reporting, and fixed asset responsibilities.

Download the free 30 day trial and explore DepreciationWorks' database integrity and spreadsheet-like ease of use.

Here is what DepreciationWorks users say:

“DepreciationWorks is one of the very few pieces of software that 'just works'."
Rich Bowman, accountant, Bennett Supply Company

“It’s exactly what I was looking for-very user friendly and once the program is set up you don’t necessarily need someone with all kinds of accounting experience to run the software given some training. Also the ability to enter assets into the future is great. I am looking at this to estimate our depreciation for our five year budget model. I just can’t express what a wonderfully simple product this is and that I don’t have to pay for all the tax calculations that we could care less about.”
Shirley Goodell-Lackey, financial accounting manager, Saint Michael's College

“Your product has made our asset management and reporting very efficient; thanks for providing such reliable, comprehensive yet flexible and easy to use software.”
Robert Spires, comptroller, Cheyenne Housing Authority

Highlights

DepreciationWorks allows unlimited assets and multiple companies. Its data files are movable to a network drive for concurrent multiple user access to shared data.

Import data from another program. DepreciationWorks’ asset import spreadsheet populates with copy and paste. Use it for any voluminous asset entry.

Defaults make asset entry easier. Example: enter a description, an acquisition date, and cost for an asset. Select the property type from a drop down look-up menu. DepreciationWorks automatically enters date in service, salvage, depreciation method, life, property tax category, and general ledger accounts. Defaults for any asset can be overridden, if desired.

Grid for entering several assets quickly. Enter data in rows working down the columns. Example: add some blank asset records. Enter acquisition dates for each row, working down the acquisition date column. Enter descriptions, down the column. Enter cost for each row. Select the property type for each asset. DepreciationWorks automatically enters date in service, salvage, depreciation method, life, property tax category, and general ledger accounts. Defaults for any asset can be overridden, if desired.

Edit data in grids. Cut, copy, and paste in grids. DepreciationWorks gives spreadsheet like flexibility and database safeguards.

Document and picture storage. Optionally store fixed asset documents and pictures in the DepreciationWorks database.

Directly expensed property tracked separately from assets. Property that doesn't cost enough to depreciate can be significant for insurance purposes. DepreciationWorks can store and report the cost of property acquired that was below the capitalization threshold.

Depreciation journal entries on-screen and in traditional reports. Journal entries include accounts and amounts for depreciation expense and accumulated depreciation.

Traditional reports and on-screen reconciled grids. DepreciationWorks’ traditional reports have grid equivalents.

Grids print and are visual custom report writers. Use grids for custom reports, schedules, and listings without having to design formats or use SQL. Group, sort, and filter by any field with a mouse click.

Traditional reports and grids can save to PDF and export to Excel®. Transmit results fast.

Live monthly and yearly depreciation schedules. Tie out before printing. Totals reconcile by general ledger account, including retirements.

Next year depreciation schedule. Use DepreciationWorks' next year report option. DepreciationWorks accepts future dates for additions and retirements, including them in next year reports and excluding them from current year reports.

Next year budget or forecasts. DepreciationWorks allows accurate budgets, projections, and forecasts by accepting future acquisition and retirement dates.

Income tax depreciation. DepreciationWorks includes reports for income tax preparers. Reports include additions and retirements by property type with monthly subtotals. Enter monthly totals into income tax preparation software instead of entering all assets, saving time.

Data mine all fields. Pivot grids, like pivot tables, provide sophisticated data analysis with drill-down to details.

Calendar for asset warranties and scheduled maintenance. DepreciationWorks includes a shared calendar, including recurring events and Gantt charts.

Backup data. Supplement normal backup routines with DepreciationWorks’ backup and restore.

Description

DepreciationWorks is intended as a subsidiary ledger for fixed asset general ledger control accounts. Its database is a repository for fixed asset details.

Fixed asset financial details include historical cost, accumulated depreciation, and depreciation expense. Accumulated depreciation is the cumulative sum of depreciation expense for fixed asset still owned and is calculated up to both the beginning and end of a current period. The current period may be a month, quarter or fiscal year. Financial details for a fixed asset also include date acquired, date placed in service, date retired, depreciation method, useful life, and salvage, net book value, and gain or loss on disposal. The financial details are factors in depreciation calculations.

Depreciation calculations for book depreciation aren't difficult. Columnar paper, a pencil, and a calculator work well for a few assets. Spreadsheets are fine for more than a few and less than many. However with many assets spreadsheets can become as useless as paper, pencil, and calculator. A database program is a better solution. Data is separate from calculation logic. The outputs readily fall into place.

Depreciation database programs that do both book and income tax depreciation are testaments to computer power. However their complexity derives from variations in statutory parameters across taxing authorities. Most of that complexity becomes detritus when the scope of depreciation calculations are narrowed to book depreciation. Little is left to justify either a high initial or perennial license cost. Income tax preparation programs, widely used, also calculate accurate income tax depreciation, either from summary totals or from data entered for each asset. In DepreciationWorks' view, full featured depreciation programs offer a redundant calculator with a plethora of methods to those who mainly need control of their general ledger cost, accumulated depreciation, and depreciation expense accounts.

DepreciationWorks' primary scope is book depreciation calculations with a database that provides an audit trail from fixed asset records to the aggregate total in the general ledger fixed asset accounts. Asset records include fields for financial details named above and for other details. Other details include descriptions, unlimited notes, a location field for business property tax reporting, a division field for home office - branch offices, an asset code for tagging an asset with an identifier, a Boolean intangible field, department by use of appropriately constructed general ledger account numbers, and storage for pictures and documents for each asset. Additional fields include a group code, vendor, manufacturer, serial number, asset custodian, and a user defined field. DepreciationWorks' secondary scope is storing records for directly expensed property.