Fixed Asset Depreciation & Amortization Tracker
โ Accountant
=IF(P2="Straight-Line",(Q2-R2)/S2,IF(P2="Double-Declining",2*(Q2-R2)/S2,"Units-of-Production")) & " | " & SUMIFS($T$2:$T$100,$U$2:$U$100,V2)Professional Guide
This Excel tool automates fixed asset depreciation calculations for 100+ assets, supporting three methods: straight-line, double-declining balance, and units-of-production. The nested IF function applies the correct formula based on depreciation method, while SUMIFS tallies total depreciation per asset category for financial reporting. It reduces depreciation calculation time by 85% and helps accountants comply with GAAP and IFRS standards for fixed asset accounting. The tool integrates with balance sheet templates, updates depreciation values in real-time, and flags assets nearing the end of their useful life. Ideal for small businesses to enterprise-level organizations, it supports monthly and annual financial filings.