Depreciation Software

What software should you use to track fixed assets and calculate depreciation? If you have just a few fixed assets - say less than 200 - using a spreadsheet may work just fine. For a large number of fixed assets a spreadsheet can become quite cumbersome. Tracking down an error in a formula or link while maintaining a spreadsheet can be quite time consuming.

If your fixed asset tracking needs are beyond a spreadsheet, then you will need fixed asset depreciation software. There are many types of programs from simple to very complex. The cost can be into the thousands of dollars. Finding the depreciation software that stays within your budget and meets your needs for tracking fixed asset data can be a challenge.

Before starting your search you need to determine your requirements for depreciation software. Some points to consider are:

Cost. What is included with the initial purchase price? Are there any annual maintenance fees? Support fees? Is the program so complex that it will take time for the user to become knowledgeable about the program?
Ease of Use. Are the input screens logical? Can you install the program and begin working without spending alot of time with the help file?
Trial Period. Can you download the program and test it before purchasing? Is sample data included so that you can easily review the program without going through the steps to set up a new database?
Depreciation Method. Which depreciation method does your organization use?
Fixed Asset Data. What data about your fixed assets do you need or want to track?
Reports. Are there standard reports? Do you have the option of creating custom reports?
Importing. Will the program import data that you currently have on a spreadsheet or another program

If you are looking for an affordable, easy to use software product The Asset Manager may fit your needs. This flexible program includes customizable reporting allowing you to select the fields to include in the report and to group the data on a number of fields. The $290.00 purchase price includes support and updates. More Information

What is Depreciation?

How to Calculate Depreciation