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Serial Wise Depreciation Management

Tracking and Calculating Depreciation Individually for Each Asset Serial Number​

In asset-intensive organizations, managing depreciation at a granular level is essential for accuracy and compliance. Serial Wise Depreciation Management in PrismERP enables businesses to calculate, track, and report depreciation separately for each asset based on its unique serial number. This ensures that depreciation is calculated precisely per item, supports audit readiness, and enhances control over fixed asset lifecycles.

What is Serial Wise Depreciation Management?​

Serial Wise Depreciation Management refers to the capability of PrismERP to track and compute depreciation on an individual asset level—using each asset's unique serial number as the identifier. This is particularly valuable when assets of the same category may have different purchase dates, usage conditions, or depreciation rates.

Key Features​

  • Serial-Level Tracking Maintain depreciation records for each individual asset based on serial number.

  • Depreciation Schedule by Serial Generate monthly, quarterly, or yearly depreciation schedules for every serialized asset.

  • Automated Depreciation Calculation System automatically calculates depreciation per serial based on assigned depreciation policy.

  • Detailed Audit Trail Provides full history of depreciation calculations and updates for each asset serial.

  • Support for Multiple Depreciation Models Compatible with Straight-Line Method (SLM) and Reducing Balance Method (RBM).

  • Asset History Integration Combines with asset movement, assignments, and maintenance history for holistic reporting.

Ideal Use Cases​

  • Depreciation of multiple computers, vehicles, or machines under the same category but acquired on different dates
  • Tracking high-value equipment individually across departments
  • Managing depreciation for serialized tools and instruments in manufacturing or construction
  • Asset-level cost control and reporting in NGOs or donor-funded projects

Integration Points​

  • Fixed Asset Register Links each serial number to its asset category, purchase date, and financial records.

  • General Ledger Automatically posts depreciation entries per serial into the correct expense accounts.

  • Branch & Department Accounting Segregates depreciation impact by organizational units.

  • Audit & Financial Reporting Supports transparency and traceability for auditors and financial controllers.

Conclusion​

Serial Wise Depreciation Management in PrismERP offers unparalleled precision in managing asset value reduction over time. By calculating depreciation per asset serial, organizations can ensure accurate accounting, compliance, and efficient asset lifecycle management.