Use depreciation with fixed assets You can calculate depreciation for a fixed asset using a choice of depreciation schedules. Calculating depreciation for a fixed asset can help IT coordinate with the corporate fixed asset system to report correct valuation and book value. Before you beginRole required: financial_mgmt_admin or financial_mgmt About this task When creating a new depreciation schedule, select the Declining Balance or Straight Line depreciation Category. The two categories depreciate an asset by the same overall amount during the asset life cycle, but do so on different schedules. Declining Balance: depreciates an asset by a greater amount in earlier accounting periods than in later periods. Straight Line: depreciates an asset by an equal amount each accounting period. The following example shows depreciated value on a $10,000.00 asset over five years using the two different methods. Table 1. Using depreciation with fixed assets Year Declining balance Straight line 1 $5000.00 $8000.00 2 $2500.00 $6000.00 3 $1250.00 $4000.00 4 $625.00 $2000.00 5 $0 $0 Procedure To view a depreciation schedule, navigate to Financial Management > Depreciation and click the Category. To create a new depreciation schedule, click New. Enter a Name. Select a Category. Add a Script to calculate depreciation value. Figure 1. Example depreciation schedule script Click Submit. The depreciation schedule is now available in the Depreciation field on the asset record.