This Fixed Asset and Depreciation template allows you to organize fixed asset purchases, depreciate them over the useable life of that purchase, and then book journal entries to the General Ledger reflecting that depreciation. This template can apply to and be useful for any amortizations, not just depreciations. It can also act as a separate schedule or be a part of a larger monthly close workbook.

The template’s schedule tab gathers the fixed asset purchases into a list that also captures the purchase amount, date those are put into service, and the usable life. The formulas then convert those amounts to depreciate (or alternatively amortize) the amounts over that determined lifespan. Those amounts are then fed to another tab, the Amalgam Journal Entry Resource, for preparation and loading into the GL. This specific template illustrates two methods of JE loads. One looks at just the entries for a particular month, the other provides a batch loading of all of the monthly amounts over the course of the asset lifetimes.

The schedule also runs a GL report to provide a check against the balances booked to ensure completeness and accuracy.