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Depreciation?

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    #1

    Depreciation?

    I've looked through all of the previous posts on the subject and had a little luck so far, but I am having trouble setting up quarterly, straight-line depreciation in a table. So far I have been able to use the age() function to get an annual depreciation and use the addmonths() function to create a calculated field that shows the expected end date for depreciation.

    Does anyone have any tips on how to do this as either quarterly or monthly depreciation?

    For reference, here is the forum post I have been using to get a better feel for it: http://www.alphasoftware.com/alphafo...t=depreciation

    Thank you!
    Tags: None
    #2
    Re: Depreciation?

    I am not an accountant but:
    1-Isn't the expected end date for depreciation something that you already know?
    2-Are you trying to figure out how much is the depreciation amount per quarter? or are you trying to figure out how much would the item depreciate after so many quarters?
    This should be a very easy function to write once your intentions are known.

    Comment

      #3
      Re: Depreciation?

      Originally posted by G Gabriel View Post
      I am not an accountant but:
      1-Isn't the expected end date for depreciation something that you already know?
      2-Are you trying to figure out how much is the depreciation amount per quarter? or are you trying to figure out how much would the item depreciate after so many quarters?
      This should be a very easy function to write once your intentions are known.
      Hi Gabriel,

      I'm doing this mostly to be able to calculate and fill a field that will show the current value of the asset, and when it will be off the books. To give a better idea of what I am looking to do, my client installs small controls on machinery that have a 5-year life. I am trying to calculate the quarterly depreciation of each control, starting from the date of installation. The field I want to write a function for would show the current value of the control after depreciation up to the current date. Does this help at all?

      Thank you for taking a look at this, I appreciate it.

      Comment

        #4
        Re: Depreciation?

        Code:
        FUNCTION Curr_Deprciated_Value AS N (Purchase_price AS N, purchase_date as d, Salvage AS N, Life AS N )
	dpt_amt=purchase_price-salvage
	dpt_Per_Qrtr=dpt_amt/life/4
	lapsed_Qrtr=round_down(Months_Between(purchase_date,date())/3)
	dpt_to_date=dpt_Per_Qrtr*lapsed_Qrtr
	Curr_Deprciated_Value=max(purchase_price-dpt_to_date,salvage)
END FUNCTION
        Legend:
        Purchase Price: self explanatory
        Purchase date: self explanatory
        Salvage: The value of the item at the end of its useful life
        Life: Useful life
        Example:
        You purchase an item for $10,000 that has a useful life expectancy of 5 years at the end of which it will be valued at $2,000. What is the depreciated value of this item if it was purchased on:
        May 1, 2015?
        Code:
        ?curr_deprciated_value(10000,{5/1/15},2000,5)
= 10000
        Since there was only 2 months and some days since the purchase price, i.e. not quite one quarter, the value has not changed.

        What if it was purchased on Jan 1, 2015? i.e. one full quarter has passed?
        Code:
        ?curr_deprciated_value(10000,{1/1/2015},2000,5)
= 9600
        Since it deprecates at $400 per quarter.

        What if it was purchased on Jan 1/2010 ?
        Code:
        ?curr_deprciated_value(10000,{1/1/2010},2000,5)
= 2000
        Which is the salvage value. It has completely depreciated.

        Comment

          #5
          Re: Depreciation?

          Wow, thank you so much, this is perfect!

          Comment

            #6
            Re: Depreciation?

            [QUOTE=G Gabriel;697388]
            Code:
            FUNCTION Curr_Deprciated_Value AS N (Purchase_price AS N, purchase_date as d, Salvage AS N, Life AS N )
	dpt_amt=purchase_price-salvage
	dpt_Per_Qrtr=dpt_amt/life/4
	lapsed_Qrtr=round_down(Months_Between(purchase_date,date())/3)
	dpt_to_date=dpt_Per_Qrtr*lapsed_Qrtr
	Curr_Deprciated_Value=max(purchase_price-dpt_to_date,salvage)
END FUNCTION
            Hi Gabriel,

            Thank you again for all your help. Unfortunately I can't seem to get the months_between() function to work correctly. Is there any way you know of to set the quarters as certain dates to calculate how many quarters have passed that way?

            For example:
            Q1 end: 03/31/yyyy
            Q2 end: 06/30/yyyy
            Q3 end: 09/30/yyyy
            Q4 end: 12/31/yyyy

            Then have lapsed_qrtr=date()-purchase_date and have it relate to the quarter end dates as mentioned above to see how many times those dates have passed?

            Thank you,

            Braden

            Comment

              #7
              Re: Depreciation?

              Originally posted by Braden.Bates View Post
              Unfortunately I can't seem to get the months_between() function to work correctly.
              Of course you couldn't get months_between() to work. I am sorry, I totally forgot..this is a function that I wrote..
              I will modify the function to suit your needs..as soon as I get a little time..perhaps this weekend...

              Comment

                #8
                Re: Depreciation?

                I do not the rules. If you bought an item say in February 2015, do you qualify for the first depreciation on March 31 2015? Or June 30 2015?

                Comment

                  #9
                  Re: Depreciation?

                  Originally posted by G Gabriel View Post
                  I do not the rules. If you bought an item say in February 2015, do you qualify for the first depreciation on March 31 2015? Or June 30 2015?
                  Hi Gabriel,

                  The item would begin depreciation on the ending date of the quarter, so February purchase would depreciate on March 31. Thank you again for all of your help with this, you're a life saver.

                  Thank you,

                  Braden

                  Comment

                    #10
                    Re: Depreciation?

                    I wrote the function, but then another question popped up:
                    Suppose you bought an item on January 1, 2015 and you declare that this item has a useful life of 5 years. When does the count down start?
                    a-Does it start as 5 years from the first date the first depreciation takes place? i.e. 3/31/2015? or
                    b-Five years from the purchase date?

                    As in the above example:
                    If the answer is a, this means the first depreciation will take effect on 3/31/15 and five years later, the last depreciation will take effect on 3/31/2020

                    If; however, the answer is b, this means the first depreciation will take effect on 3/31/15 and the last depreciation will occur on 12/31/2019
                    And, without even running the math, the value after the last depreciation in the latter scenario (b) will be higher than the salvage value !
                    I hope the answer is not b because that's totally IRS crazy ! Unless the IRS will allow you to take depreciation after the end of the useful life, which is a different kind of crazy !

                    Comment

                      #11
                      Re: Depreciation?

                      irs manual on depreciation:

                      You begin to depreciate your property when you place it in service for use in your trade or business or for the produc- tion of income. You stop depreciating property either when you have fully recovered your cost or other basis or when you retire it from service, whichever happens first.
                      i hope i am not intruding without knowing the full extent of the conversation.
                      http://www.irs.gov/pub/irs-pdf/p946.pdf
                      Last edited by GGandhi; 07-21-2015, 05:28 AM.
                      thanks for reading

                      gandhi

                      version 11 3381 - 4096
                      mysql backend
                      http://www.alphawebprogramming.blogspot.com
                      [email protected]
                      Skype:[email protected]
                      1 914 924 5171

                      Comment

                        #12
                        Re: Depreciation?

                        Originally posted by G Gabriel View Post
                        I wrote the function, but then another question popped up:
                        Suppose you bought an item on January 1, 2015 and you declare that this item has a useful life of 5 years. When does the count down start?
                        a-Does it start as 5 years from the first date the first depreciation takes place? i.e. 3/31/2015? or
                        b-Five years from the purchase date?

                        As in the above example:
                        If the answer is a, this means the first depreciation will take effect on 3/31/15 and five years later, the last depreciation will take effect on 3/31/2020

                        If; however, the answer is b, this means the first depreciation will take effect on 3/31/15 and the last depreciation will occur on 12/31/2019
                        And, without even running the math, the value after the last depreciation in the latter scenario (b) will be higher than the salvage value !
                        I hope the answer is not b because that's totally IRS crazy ! Unless the IRS will allow you to take depreciation after the end of the useful life, which is a different kind of crazy !
                        That is an excellent point and I will forward this to the client to make sure everyone is on the same page. Hopefully I can have an answer for you by the end of the day today.

                        Comment

                          #13
                          Re: Depreciation?

                          Originally posted by GGandhi View Post
                          irs manual on depreciation:

                          i hope i am not intruding without knowing the full extent of the conversation.
                          http://www.irs.gov/pub/irs-pdf/p946.pdf
                          The worksheets and the tables in that publication should help him get the rates & fields he needs into his database. Unfortunately it is not just a matter of creating a function...first you have to compute the correct amount and record that somewhere before you can report it. Some things were more easily done in the era before computers - but the same principle applies: first you have to do the work!
                          Robin

                          Discernment is not needed in things that differ, but in those things that appear to be the same. - Miles Sanford

                          Comment

                            #14
                            Re: Depreciation?

                            Unfortunately it is not just a matter of creating a function
                            actually I think, it is a fulltime job. sage software publishes full blown software just for depreciation alone(involving something like 3000 calculations! and needs to be updated to the current irs rules and regulations.)
                            thanks for reading

                            gandhi

                            version 11 3381 - 4096
                            mysql backend
                            http://www.alphawebprogramming.blogspot.com
                            [email protected]
                            Skype:[email protected]
                            1 914 924 5171

                            Comment

                              #15
                              Re: Depreciation?

                              Originally posted by GGandhi View Post
                              actually I think, it is a fulltime job. sage software publishes full blown software just for depreciation alone(involving something like 3000 calculations! and needs to be updated to the current irs rules and regulations.)
                              Which is why I employ a CPA. They have the software needed to keep in compliance with IRS. Why try to reinvent the wheel?
                              Robin

                              Discernment is not needed in things that differ, but in those things that appear to be the same. - Miles Sanford

                              Comment

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