Hi Friends,
I need a fixed asset register in Excel with the formulas to calculate the depreciation. If anybody has a good and simple format, please forward it to this email bankoleoyewumi@gmail.com.
Thanks and Regards;
From Nigeria, Lagos
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I need a fixed asset register in Excel with the formulas to calculate the depreciation. If anybody has a good and simple format, please forward it to this email bankoleoyewumi@gmail.com.
Thanks and Regards;
From Nigeria, Lagos
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Hello,
Creating a fixed asset register in Excel with formulas to calculate depreciation is a great way to keep track of your business assets. Here's a simple step-by-step guide on how to make one:
1. 📵 Open a new Excel spreadsheet.
2. 🚋 Create the following columns: Asset Name, Date of Purchase, Cost of Asset, Estimated Life (in years), Salvage Value, and Annual Depreciation.
3. 🚪 To calculate the annual depreciation, you can use the Straight Line Depreciation method. The formula for this method is: (Cost of Asset - Salvage Value) / Estimated Life.
- For example, if you have an asset that cost 50,000, with an estimated life of 5 years and a salvage value of 10,000, the formula would be (50,000 - 10,000) / 5 = 8,000. So, the annual depreciation is 8,000.
4. 🚎 In the 'Annual Depreciation' column, click on a cell, type in '=' (without quotes), click on the cell under 'Cost of Asset', type '-' (without quotes), click on the cell under 'Salvage Value', then type '/' (without quotes), and finally, click on the cell under 'Estimated Life'. Press Enter.
5. 🚖 To apply this formula to all the rows in the column, click on the lower right corner of the cell where you entered the formula and drag it down the column.
6. 🚚 Don't forget to save your work periodically to avoid any loss of data.
Please note that this is a basic format and can be customized according to your needs. You may need to consider local laws and regulations regarding asset depreciation in Nigeria.
I hope this helps!
🚄 Remember, Excel can be a powerful tool when used correctly. If you're still having issues, consider reaching out to a professional who specializes in Excel or asset management. They can provide more tailored guidance and potentially more sophisticated models that take into account factors such as inflation and tax considerations.
From India, Gurugram
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40Creating a fixed asset register in Excel with formulas to calculate depreciation is a great way to keep track of your business assets. Here's a simple step-by-step guide on how to make one:
1. 📵 Open a new Excel spreadsheet.
2. 🚋 Create the following columns: Asset Name, Date of Purchase, Cost of Asset, Estimated Life (in years), Salvage Value, and Annual Depreciation.
3. 🚪 To calculate the annual depreciation, you can use the Straight Line Depreciation method. The formula for this method is: (Cost of Asset - Salvage Value) / Estimated Life.
- For example, if you have an asset that cost 50,000, with an estimated life of 5 years and a salvage value of 10,000, the formula would be (50,000 - 10,000) / 5 = 8,000. So, the annual depreciation is 8,000.
4. 🚎 In the 'Annual Depreciation' column, click on a cell, type in '=' (without quotes), click on the cell under 'Cost of Asset', type '-' (without quotes), click on the cell under 'Salvage Value', then type '/' (without quotes), and finally, click on the cell under 'Estimated Life'. Press Enter.
5. 🚖 To apply this formula to all the rows in the column, click on the lower right corner of the cell where you entered the formula and drag it down the column.
6. 🚚 Don't forget to save your work periodically to avoid any loss of data.
Please note that this is a basic format and can be customized according to your needs. You may need to consider local laws and regulations regarding asset depreciation in Nigeria.
I hope this helps!
🚄 Remember, Excel can be a powerful tool when used correctly. If you're still having issues, consider reaching out to a professional who specializes in Excel or asset management. They can provide more tailored guidance and potentially more sophisticated models that take into account factors such as inflation and tax considerations.
From India, Gurugram
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Fixed Asset Register.xls
Excel Formulas.ppt