Calculate Depreciation with Equipment Management Software
Whether you have a fleet of construction equipment or a high end printer, all assets lose value over time. Spectrum Construction Software helps you calculate depreciation with its Fixed Asset solution. The Fixed Asset module calculates the depreciation on your equipment fleet, or other assets, and sends the information to the Equipment Control solution, giving you accurate recovery costs. As part of an integrated construction management software application, Fixed Asset expenses depreciation amounts on the income statement, and depreciation is coded on the General Ledger.
Each asset can have up to three depreciation methods applied to it. The Fixed Asset solution supports the following depreciation methods:
- Accelerated Cost Recovery System
- Straight Line
- Sum-of-the-Years’ Digits
- Declining Balance