Download our free straight-line depreciation schedule template in Excel. The spreadsheet is simple to use and full instructions are included in this page.
What is a Depreciation Schedule?
It allows you to record fixed assets of a small business over a period of years and calculate the depreciation each year.
Our Excel spreadsheet will allow you to track and calculate depreciation for up to 25 assets using the straight-line method. It is the most common method spreading the value of the asset throughout its life.
If you have purchased a fixed assets part of the way through the year, you can enter the number of months you want the item depreciated during the first year, and it will calculate the figures for you.
To calculate reducing balance depreciation, our free calculator will complete the task for you.
Depreciation Schedule Instructions
- In the green box enter the current year in format yyyy, 2020 is entered but if it is a later or earlier year change it.
- Enter the description of the fixed asset, for a larger company you may also want to include asset number or location
- For the year purchased, enter the year that your accounts finish. E.g your financial year runs from 6th April 2019 to 5th April 2020. An asset is purchased in June 2019 enter 2020, as the accounting year is 19/20.
- Record the purchase cost of the item, if the business is VAT registered it is the Net value, otherwise record the full cost
- Enter the years you wish to depreciate the asset, e.g. computer over three years, furniture over five years
- If you purchase an item part of the way through the year, enter the number of months during the first year you need to depreciate it for. e.g. item purchased in January and year-end March, you would enter three months
When all the information is posted, the figures will calculate the total depreciation figure for each year; this can then be entered in the business accounts.
The template runs for ten years, and the final column will show the figure for the remaining depreciation to carry forward. It will then need to be recorded in a new spreadsheet.
If you do not have Excel, the spreadsheet will also work with Google Docs and some of the free versions of office in the Microsoft store. We have tested the spreadsheet with Neat Office and works.
Fixed Asset Depreciation Schedule Example
Our example below shows three assets which were purchased in 2020. They are all depreciated using the straight-line method. The computer and printer depreciated over 3 years and the desk for 5 years.
The amounts to post to the accounts are as follows:
- 2020 – 86.56
- 2021 – 289.67
- 2022 – 289.67
- 2023 – 213.11
- 2024 – 50.00
The double entry posting is to debit the depreciation expense in profit and loss and credit accumulated depreciation in the balance sheet.
By downloading the depreciation schedule template, you agree to the terms of our licence agreement:
Return from Depreciation Schedule to Fixed Asset page.