Free asset depreciation schedule
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Free asset depreciation schedule (PDF). Calculate straight-line and diminishing value depreciation, accumulated depreciation and written-down value.
Commercial Director
Key takeaways
- A depreciation schedule calculates how much value an asset loses each year, the accumulated depreciation and the written-down value at year end.
- Straight-line spreads cost evenly across the effective life; diminishing value charges more in the early years off the written-down value.
- In Australia the ATO publishes an effective life for most asset types, which sets the rate used by both methods.
- A depreciation schedule does the year-by-year maths; a fixed asset register holds the asset record those figures feed into.
Updated 4 June 2026
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What is a asset depreciation schedule?
An asset depreciation schedule is a working calculation table that shows how the value of an asset is written down over its useful life, year by year. For each asset it records the cost, the depreciation method, the effective life or rate, the depreciation charged in the current year, the accumulated depreciation to date and the resulting written-down value. It is the document an accountant or asset manager uses to work out the depreciation expense for the period and to see exactly what an asset is worth in the books at any point in its life.
Depreciation schedules are used at year end and at every reporting period by finance teams, bookkeepers and asset managers in construction, plant hire, manufacturing and facilities. Most schedules support two methods: the prime cost or straight-line method, which spreads cost evenly across the effective life, and the diminishing value method, which charges a larger amount in the early years off the reducing written-down value. In Australia the Australian Taxation Office publishes an effective life for most asset types, and entities use it under either method to keep the calculation defensible. In MapTrack, depreciation is calculated against each asset record automatically, so the schedule stays current as assets are added, improved or disposed of. AASB 116 sets out how property, plant and equipment is depreciated for financial reporting.
Learn more about asset tracking in MapTrack.
Benefits of using this asset depreciation schedule
- Method clarity: side-by-side straight-line and diminishing value columns make it obvious which method is applied to each asset.
- Defensible figures: recording the cost, effective life and rate shows exactly how every depreciation amount was worked out for an auditor.
- Accurate year end: a complete schedule gives the depreciation expense and the written-down value the accounts and tax return need.
- Disposal ready: the written-down value at the date of sale or scrap is the figure used to calculate the gain or loss on disposal.
- Forward visibility: projecting depreciation across the remaining life shows when assets approach a low book value and need replacing.
- Tax alignment: capturing the ATO effective life against each asset keeps the schedule consistent with the depreciation claimed.
- Insurance and budgeting: written-down values across the asset base inform sum-insured decisions and capital replacement planning.
Benefits of digitising forms in MapTrack
When you move your asset registers from paper to MapTrack, you get:
- Field users can easily scan a QR code to complete a form on mobile. Unlimited users.
- Automatically get alerts when faults are identified.
- Link every form digitally as a PDF to the relevant asset, location or person.
- Receive a digital PDF copy with every submission to your email.
- Ability to share forms digitally.
- Build conditional logic (show or hide questions based on answers).
- Take pictures or attach photos. Not possible with a paper-based form.
- Electronic signatures.
- Edit forms later without reprinting.
- Restrict permissions (who can view, complete or approve).
- Build forms with AI (describe what you need and MapTrack suggests the form).
- Maintain a live asset register with location, condition and custody history.
- Schedule and track calibration, certification and warranty expiry dates.
- Generate depreciation and total-cost-of-ownership reports per asset.
Book a demo to see how MapTrack handles asset registers.
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“Bloody amazing! We used to spend 1-2 days a week tracking and managing our generators alone.”
Steve McAllister
Asset Coordinator, Saunders International
What to include in a asset depreciation schedule
This asset depreciation schedule covers 11 key areas:
- Schedule details: entity name, prepared by, financial year and the date the schedule was run.
- Asset number: the unique reference that links the schedule to the fixed asset register and the operational asset ID.
- Description: the asset and, where useful, its class such as plant, vehicles or IT.
- Cost: the capitalised acquisition cost the depreciation is calculated on.
- Acquisition date: when the asset was first ready for use, which sets the start of depreciation.
- Method: prime cost (straight-line) or diminishing value.
- Effective life or rate: the ATO effective life in years, or the annual percentage rate applied.
- Depreciation this year: the amount charged for the current period under the chosen method.
- Accumulated depreciation: total depreciation charged against the asset to date.
- Written-down value: cost less accumulated depreciation at the reporting date.
- Notes: any improvement, part-year adjustment or pending disposal affecting the calculation.
How to use this asset depreciation schedule
- List each asset and bring across its cost and acquisition date.: Take every capitalised asset from the fixed asset register and record its cost and the date it was first ready for use. Use the same asset number as the register so the schedule and the register reconcile to one another without ambiguity later.
- Choose the depreciation method for each asset or class.: Decide whether each asset uses prime cost or diminishing value, applying the same method consistently within an asset class. The choice changes how quickly cost is written off, so record it against every line and keep it stable year to year.
- Set the effective life or rate from the ATO schedule.: Look up the effective life the Australian Taxation Office publishes for the asset type, or use a self-assessed life you can justify. Convert it to an annual rate where needed: prime cost uses one over the life, diminishing value uses a higher factor.
- Calculate the depreciation for the current year.: For prime cost, charge cost divided by effective life. For diminishing value, apply the rate to the opening written-down value. Pro-rata the first year from the acquisition date so a part-year is not charged a full year of depreciation.
- Update accumulated depreciation and the written-down value.: Add the current year charge to the accumulated depreciation, then subtract that total from cost to get the written-down value at the reporting date. Carry the written-down value forward as next year opening balance for diminishing value assets.
- Reconcile, record disposals and review the schedule.: Reconcile total depreciation to the general ledger, and for any asset sold or scrapped compare proceeds with the written-down value to recognise a gain or loss. Remove disposed assets so they are not depreciated past disposal, then file the schedule.
In MapTrack, you can manage your full asset register digitally. Each submission is stored as a timestamped PDF against the asset record.
Get the free templateEnter your email above to download the full asset depreciation schedule as a PDF.Back to download formHow often should you complete this asset register?
Run the depreciation schedule every reporting period, which is monthly or annually depending on how often you report, and always at financial year end before the accounts are finalised. Update it whenever an asset is acquired, improved or disposed of so the cost base and written-down values stay correct. Many organisations also review the effective lives and methods once a year to confirm they still reflect how the assets are actually used. In MapTrack, depreciation is calculated against each asset record automatically, so the schedule never falls behind between formal runs.
Frequently asked questions
Applicable regulatory standards
This template aligns with the following regulations and standards:
- ATO - Guide to depreciating assets (effective life, prime cost and diminishing value methods)
- AASB 116 - Property, Plant and Equipment (depreciation of fixed assets for financial reporting)
- ISO 55001 - Asset Management Systems (systematic control of the asset base over its life)
Need to manage your full asset register digitally?
Register every asset in MapTrack, attach digital forms, and get a complete history of every inspection, service and compliance record.