Wafeq makes it easy to run depreciation for your fixed assets.
To book and depreciate a fixed asset:
- In the
Fixed Assetspage, enter all the required details of the fixed asset, then change the status to
- To run depreciation, select the fixed assets you want to depreciate by ticking the checkbox in the first column, then click on
- Select the last month where you want the depreciation to run, then click
Run depreciation. Wafeq will run monthly depreciations with the straight-line method.
- To view the depreciation of the asset, hover over the
Current book valuecell and click the depreciation icon to open the side panel showing all depreciations recorded.
Current book valueis the net book value of the asset as at the end of the previous month. When the current book reaches the salvage value, the status of the asset will change to