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Free asset depreciation schedule

Free asset depreciation schedule (PDF). Calculate straight-line and diminishing value depreciation, accumulated depreciation and written-down value.

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FreePDFUpdated Oct 2026

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Updated 26 Oct 2026

How to use: download the PDF, print or complete digitally on any device.

  • PDF format, ready to print or fill on screen
  • Use as-is or customise to suit your operation
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Jarrod Milford

Jarrod Milford

Co-Founder & Commercial Director

Updated 26 October 2026
Also see:Asset tracking →Best asset tracking software →MapTrack vs Asset Panda →

Short answer

An asset depreciation schedule calculates each asset's write-down: cost, method, effective life or rate, this year's depreciation, accumulated depreciation and written-down value. Finance teams run it each reporting period and at year end. For tax, Division 40 of the Income Tax Assessment Act 1997 sets the prime cost and diminishing value methods; for accounts, AASB 116 paragraph 50 allocates the depreciable amount, cost less residual value, over useful life.

Checked against ITAA 1997 (Compilation C2026C00471, effective 2026-10-01, registered 2026-10-20; current as at 2026-10-26 (Federal Register of Legislation)) on by the MapTrack templates team. How we check templates

Key takeaways

  • The MapTrack asset depreciation schedule has 8 columns and room for 28 entries. Columns: Asset no., Description, Cost, Method, Life / rate, Depr. this year, Accum. depr., Written-down value.
  • 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; you can use it or work out your own, and the life you choose sets the rate for both methods.
  • A depreciation schedule does the year-by-year maths; a fixed asset register holds the asset record those figures feed into.

Enter your email below to download this asset depreciation schedule as a ready-to-use PDF.

Used by construction, mining and field service teams

Saunders InternationalMineral ResourcesSupagasHacer GroupMetro TunnelUltrabuilt

What is an 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.

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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.
  • Email the right people when a form is submitted, with an automation you set up.
  • File every completed form against the asset, location or person it covers.
  • Download any completed form as a PDF, with failed answers listed at the top.
  • Fill in forms offline; they upload when the device is back online.
  • 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.
  • Set who can view, fill in or edit forms with user roles.
  • Upload a paper form (PDF, Word, Excel or a photo) and MapTrack's AI builds a digital version for you to check.
  • Keep one asset register with each asset's location, condition and custody history.
  • Schedule calibration and record certification and warranty expiry dates against each asset.
  • See each asset's value over time in the Asset Depreciation report.

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1-2 days/week saved

“Bloody amazing! We used to spend 1-2 days a week tracking and managing our generators alone.”
Saunders International

Steve McAllister

Asset Coordinator, Saunders International

What to include in an 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

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.

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How 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.

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Frequently asked questions

An asset depreciation schedule template is a calculation table that works out how an asset value is written down over its useful life. For each asset it records the cost, the method, the effective life or rate, the depreciation charged this year, the accumulated depreciation and the written-down value. It gives finance teams the depreciation expense for the period and shows exactly what each asset is worth in the books.

A fixed asset register is the master record of each capitalised asset, including its cost, method and net book value. A depreciation schedule is the working calculation that produces the depreciation figures the register relies on, year by year and method by method. In practice they are linked by a shared asset number: the schedule does the maths, the register holds the result and the wider asset detail.

Under the prime cost or straight-line method you charge the same amount each year, calculated as cost divided by the ATO effective life. Under the diminishing value method you apply a higher rate to the reducing written-down value, so more is charged in the early years and less later. The Australian Taxation Office publishes effective lives for most asset types, and entities choose either method and apply it consistently to keep the calculation defensible.

Run the schedule every reporting period, monthly or annually, and always at financial year end. Update it whenever an asset is bought, improved or disposed of so the cost base and written-down values stay accurate. Review the effective lives and methods at least once a year to confirm they still match how the assets are used. A schedule left untouched between year ends quickly drifts out of step with the asset register and the ledger.

Yes. Download and use the depreciation schedule template for free: it downloads as a ready-to-print PDF, and you can copy the layout into your spreadsheet. No account is required. If you would rather have depreciation calculated automatically against each asset, with cost, maintenance and disposal history in one place, MapTrack can do that. Book a demo to see how it works.

Applicable regulatory standards

This template is a starting point. Check the current requirements that apply to your equipment, work and location. The template alone does not establish compliance.

  • Income Tax Assessment Act 1997

    Edition: Compilation C2026C00471, effective 2026-10-01, registered 2026-10-20; current as at 2026-10-26 (Federal Register of Legislation)

    Tax decline in value: diminishing value and prime cost methods, and choosing the Commissioner's or a self-assessed effective life.

    • Div 40: Capital allowances: deductions for the decline in value of depreciating assets.
    • s 40-70: Diminishing value method of working out decline in value.
    • s 40-75: Prime cost method of working out decline in value.
    • s 40-95: Choice between the Commissioner's effective life and self-assessed effective life.

    Commonwealth of Australia (Federal Register of Legislation)

  • Guide to depreciating assets 2026

    Edition: Guide to depreciating assets 2026, published 30 May 2026

    ATO's annual guide to effective life and the two methods, used for the tax columns.

    Australian Taxation Office

  • AASB 116 Property, Plant and Equipment

    Edition: AASB 116 (August 2015), latest compilation dated 2022-12-31

    Accounting depreciation: significant parts depreciated separately, depreciable amount allocated over useful life, and life and residual value reviewed at least each year-end.

    • para 43: Each significant part of an item of property, plant and equipment must be depreciated separately.
    • para 50: The depreciable amount of an asset must be allocated on a systematic basis over its useful life.
    • para 51: Residual value and useful life must be reviewed at least at each financial year-end.

    Australian Accounting Standards Board

  • Asset management - Asset management system - Requirements

    Edition: ISO 55001:2024 (Edition 2)

    Asset data and information supporting life cycle and replacement decisions.

    • 7.6: Data and information about assets needed to support asset management decisions.

    International Organization for Standardization (ISO)Sold by the publisher

Each source was read at its publisher and the page checked on 26 October 2026. The publisher's current text is the authority.

Asset depreciation schedule preview

Asset depreciation schedule template preview showing fields and layout

The numbers behind this asset depreciation schedule

The pages below gather the figures behind this kind of check. Each figure on them carries its source and date, so you can quote it in a toolbox talk, a budget case or a board paper without chasing the original report.

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Run an industry blog, trade association site, or training resource? Drop a preview of this free asset depreciation schedule straight into your page. The snippet is self-contained, needs no scripts, and links readers back to the full free template.

<div style="max-width:480px;font-family:system-ui,-apple-system,'Segoe UI',Roboto,sans-serif;border:1px solid #E5E7EB;border-radius:12px;padding:20px;background:#ffffff;">
  <p style="font-size:12px;font-weight:700;letter-spacing:0.05em;text-transform:uppercase;color:#071D49;margin:0;">Free template</p>
  <p style="font-size:18px;font-weight:700;color:#071D49;margin:6px 0 0;">Asset depreciation schedule</p>
  <ul style="margin:12px 0 0;padding-left:18px;color:#374151;font-size:14px;line-height:1.6;">
    <li style="margin:4px 0;">Schedule details: entity name, prepared by, financial year and the date the schedule was run.</li>
    <li style="margin:4px 0;">Asset number: the unique reference that links the schedule to the fixed asset register and the operational asset ID.</li>
    <li style="margin:4px 0;">Description: the asset and, where useful, its class such as plant, vehicles or IT.</li>
    <li style="margin:4px 0;">Cost: the capitalised acquisition cost the depreciation is calculated on.</li>
    <li style="margin:4px 0;">Acquisition date: when the asset was first ready for use, which sets the start of depreciation.</li>
    <li style="margin:4px 0;">Method: prime cost (straight-line) or diminishing value.</li>
  </ul>
  <p style="font-size:13px;color:#6B7280;margin:14px 0 0;padding-top:12px;border-top:1px solid #E5E7EB;">Free <a href="https://www.maptrack.com/templates/asset-depreciation-schedule-template" style="color:#071D49;font-weight:600;text-decoration:none;">Asset depreciation schedule</a> by MapTrack</p>
</div>

Free to reuse, including commercially. This template is published under a Creative Commons Attribution 4.0 licence. Copy it, adapt it, put it on your own site or in your own docs. All we ask is that you credit MapTrack with a link back to this page. The snippet above already includes that credit, so if you use it as-is you’re covered.

Cite this template

Writing about this topic? You’re welcome to quote this checklist. Here’s the wording to use so your readers can find the original.

The MapTrack asset depreciation schedule has 8 columns and room for 28 entries.

Short attribution
MapTrack Asset depreciation schedule, https://www.maptrack.com/templates/asset-depreciation-schedule-template
Reference list
MapTrack. (2026). Asset depreciation schedule [Checklist template]. Retrieved from https://www.maptrack.com/templates/asset-depreciation-schedule-template

Free to reuse with credit under a Creative Commons Attribution 4.0 licence. If you’d rather link straight to it, the page is https://www.maptrack.com/templates/asset-depreciation-schedule-template.

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