Depreciation Schedule

The depreciation of one asset, period by period, by the straight-line or declining-balance method: opening and closing book value, depreciation and the total so far.

Free. Fill in, print, save as PDF or download as Word without an account. Saving to your account needs a free account.

Depreciation Schedule: infographic with a sketch of the document, when to use it, common mistakes and the country versions.
1 table, 2 signatures.

Country versions

  • International
  • Korea *
  • Japan *

* check with local advice

A template, not advice.

Read more

What it is

Depreciation spreads the cost of a lasting asset over the years it is used, instead of treating the whole price as an expense in the year of purchase. A depreciation schedule lists, period by period, how much of the cost has been written off and what remains on the books, the book value.

This schedule offers two methods. Straight-line writes off the same amount every period: (cost - residual value) divided by the useful life. Declining balance writes off a fixed percentage of the book value at the start of each period, so the amounts begin high and shrink: depreciation = opening book value x annual rate, where the rate is the declining factor divided by the useful life (a factor of 2 is the "double-declining" variant) unless you type a rate. In both, the book value never falls below the residual value and the last period takes exactly what is left.

You can run the schedule by year, with a part-year at the start (an asset in service for ten months of its first year is depreciated for ten months), or by month for the first 60 months. The rounding rule: every balance is rounded to the smallest unit of the currency (cents; whole won and yen), and a period's depreciation is the difference between its opening and closing balance, so the depreciation column adds up exactly to cost minus residual value. The schedule applies no tax rule: useful lives, maximum rates and permitted methods differ by country and asset type, and are for you and your accountant to set.

When to use it
  • You bought equipment, a vehicle or software and want to see how its value falls on your books year by year.
  • Your accountant asks for the depreciation of an asset, or you want to check the figure you were given.
  • You compare straight-line and declining balance for the same asset before you decide on a policy.
  • You need the book value of an asset at a given year-end, for a sale, an insurance claim or a loan application.
How to fill it in
  1. Describe the asset and enter its cost and residual value (0 if you expect nothing).
  2. Pick the useful life and the method. For declining balance, keep the factor of 2 or type your own annual rate.
  3. Choose the schedule by year or by month. For a year schedule, set the months the asset was in service in its first year and, if you like, the first year.
  4. Read the table: opening book value, depreciation, accumulated depreciation and closing book value of each period.
  5. Print the schedule for the signatures or download it as a Word or Excel file.
Common mistakes
  • Entering the residual value as a percentage. It is an amount in the currency, not a rate.
  • Choosing a life that does not match the policy you or your accountant use, which makes the figures differ from your books.
  • Forgetting the part-year: an asset bought in March is not depreciated for twelve months in its first year.
  • Depreciating land. Land is normally not depreciated; record it without a schedule.
  • Starting a new schedule for the same asset after a repair or upgrade instead of asking your accountant how to treat it.
Steps at a glance
  1. Fill in
  2. Check the preview
  3. Save as PDF, Word or Excel
Country versions

Pick the country you need. Each version uses the wording and layout commonly found there; a version marked “check with local advice” should be read by someone who knows the local rules before it is used.

  • International (XX): Written in English, Korean, Japanese, German
  • Korea (KR): Written in Korean, English – check with local advice
  • Japan (JP): Written in Japanese, English – check with local advice

Designs

The same form in several designs. The fields and the wording stay the same; only the look changes.

  • Compact
  • Ledger
  • Boxed form
  • Plain (black and white)
  • Banner
  • Classic
  • Modern
  • Minimal
  • Side band
  • Warm
  • Formal
  • Executive

Your details fill it in

Fields that ask for your name, address or company details are filled from My details, so you do not type them again; you can still change any field for one form. Signed in, your details stay in your account; otherwise they stay in this browser only. A passport, identity or social security number is never saved.

Questions

Which method should I use?
Straight-line suits assets that lose value evenly, such as furniture. Declining balance suits assets that lose most value early, such as computers and vehicles. Which is allowed or required for your books and taxes depends on your country; ask your accountant, then enter the method they give you.
Why does the last period differ from the others?
The last period takes exactly what is left above the residual value, so the book value ends precisely there. With a part-year at the start, the last period also covers only the months that remain. With declining balance the rate usually has not brought the book value down to the residual value by then, so the last amount can be noticeably larger; type a higher annual rate if you want the book value to get there sooner.
How does the declining rate work?
With a factor of 2 and a life of 5 years, the rate is 2 divided by 5, which is 40 percent of the opening book value each year. If you type an annual rate, that rate is used instead. For a monthly schedule the rate is divided by 12.
Why does the monthly schedule stop at 60 months?
A monthly table for a 10- or 40-year asset would run to hundreds of rows. The first 60 months are enough to see the pattern; use the yearly schedule for the whole life.
Can I use these figures in my tax return?
QuoteBill cannot say. The schedule applies no tax rule, and tax depreciation often follows its own lives, rates and rounding. Use it as a working document and check the figures with your accountant before you rely on them.
Is this form legal, tax or accounting advice?
No. It is a template: it gives you the usual structure and wording, not advice. Rules differ by country and case, so have someone qualified read anything that matters before you sign, send or file it.
Which countries and designs does it come in?
It comes in 3 country versions: International, Korea, and Japan. 12 designs.

Forms Top 100

A form is a template, not legal, tax or accounting advice. Rules differ by country and case.