Depreciation_Schedule

Depreciation Schedule

A Depreciation Schedule is a report that shows how an asset’s cost is allocated over its useful life through depreciation.

It provides a structured view of:

  • an asset’s original cost,
  • depreciation method,
  • accumulated depreciation,
  • current depreciation expense,
  • and remaining book value.


The report is commonly used for:
  • financial reporting,
  • budgeting,
  • audit support,
  • and long-term asset planning.


Depending on configuration, the schedule may also show:
  • Acquisition date
  • In-service date
  • Salvage value
  • Remaining life
  • Depreciation method
  • (Straight-Line, Declining Balance, etc.)
  • Fund or department
  • Monthly or annual depreciation amounts


Organizations use the Depreciation Schedule to:
  • Calculate and verify depreciation expense
  • Support annual audits
  • Reconcile accumulated depreciation
  • Forecast future depreciation
  • Prepare financial statements under GASB standards


In government accounting, this report is especially important because depreciation affects:
  • government-wide financial statements,
  • capital asset reporting,
  • and long-term financial planning.


Compared to other reports:
  • Transaction Register: Detailed asset activity
  • Schedule of Changes in Assets: Overall asset balance changes
  • GL Reconciliation Summary: Reconcile assets to the General Ledger
  • Depreciation Schedule: Detailed depreciation calculations and balances


In simple terms:
  • A Depreciation Schedule shows how each asset loses value over time for accounting purposes.

 

Printing a Depreciation Schedule

1. Open Connect Asset Management > Reports > Depreciation Schedule.

2. Select a report title.

For example, Depreciation Schedule - By Department and Classification. This report will usually provide the totals broken down by classification in a given department.

3. Select the Report Dates.

4. Do you want include report only transactions?

A report only transaction is recorded and will be updated to the General Ledger as a report only transaction.

  • Yes, I want to include report only transactions. Select the Include Report-Only Transactions checkbox.

  • No, I do not want to include report only transactions. Deselect the Include Report-Only Transactions checkbox.  

5. Click Print (CTRL+P).  

The report prints.

 

Using a Depreciation Schedule to update to the general ledger

If you're not using Update General Ledger to update asset management transactions to the Caselle General Ledger, you can use the totals on the depreciation schedule to post asset transaction totals.

 

 

 

 

 

 


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