Depreciation Module

Depreciation Module with insurance and replacement costs

The depreciation module allows all asset depreciation to be handled in one system. The module is easy to use and has unparalleled flexibility both in structure and reporting to allow virtually any depreciation scenario to be handled. Comprehensive searching, financial reporting and journal export are prime features of our product offering. As with the other  modules the depreciation module is supplied with a report generator where the user can select from our comprehensive list of pre-formatted reports or alternatively create their own custom report formats.

Typical data stored in this module:

  • Depreciation sets (book, tax, historical cost, forecasting)
  • Default depreciation rates and methods by major asset class
  • Overriding rates/methods for individual asset and effective dates
  • Period end and year end dates for depreciation
  • Full depreciation values (eg Start Value, Prior Years, Prior Periods and this Period Depreciation charge, Closing Written Down Value, etc)
  • Journal codes for easy General Ledger journal export into other accounting systems
  • Insurance and replacement costs

Depreciation Module Benefits:

The depreciation module allows all asset depreciation, for all types and all cost centers, to be handled in the one system. While easy to use, Hardcat boasts unparalleled flexibility both in structure and reporting to allow virtually any depreciation scenario to be handled.

Unlike other depreciation solutions, Hardcat's structure allows non-depreciable assets such as leased items to be maintained in the same asset database and appear in an asset listing without appearing in the depreciation schedule. It is also possible for other asset register users (e.g. IT staff, maintenance staff) to have their own asset classification system without affecting the asset type structure set up for depreciation purposes. Advanced security ensures against non-finance staff accidentally changing any financial asset values or structures. As one of our customers said: "Finally, an asset register that keeps both Finance and IT staff happy!"

The depreciation module permits you to view, report on and calculate depreciation on each asset. You can maintain multiple books and there are a host of standard and customized reports all available on line. Supports multiple currencies too!