Asset Classes

Asset classifications simplify asset input, by setting life, convention, and enabling or disabling fields that are appropriate for this type of asset. Depreciation Pro comes with a variety of asset classes preloaded.

This table can be edited to include only the kind of assets used in your business. These classes can be updated by using the menu Maintenance\Asset Classes.

Key Points

The user also has the option of using the Life field instead of the Asset Class Field.
An asset class can only be deleted if that class has not been assigned to an asset.
If Auto -Type - This option is used to describe the automobile type. This is for use only with Listed assets.
Amortization # -This is the code required for assets that are amortized. If the method is not Amortize the code will be set to zero.