Calculation of fixed asset depreciation is an important part of financial management and auditing that helps various organisations to claim their expenses under the head of depreciation on the provision given in Income tax companies act. Maintaining a register for fixed assets manually can be a challenge for many organizations and may cause human errors while doing so. Some common problems that organizations face includes applying the correct method of depreciation, estimating the exact salvage value of their assets, keeping a track of government regulations and lastly avoiding audit non compliance.

With Maco's asset management software (AMS) calculation of depreciation on fixed assets has become something which can be done easily like child's play. The fixed asset depreciation module offers a four click solution which can calculate depreciation as per income tax/ companies act for all the assets base in less than a minute of time.

Calculation of depreciation daily, monthly or yearly with companies act and IT act simultaneously based on SLM/WDV method and getting assets register chart and schedule under IFRS and IND -AS reporting standards.