Can we calculate depreciation on monthly basis

[Prakash_S]

Hi Expert,

Can we calculate asset depreciation on monthly basis, if yes then how?

[Runjay Patel · Accepted solution]

Hi @Prakash_S ,

Yes you can calculate depreciation on monthly basis, follow below step.

1. Create one scheduled job and set run as monthly.
2. 
3. Set the run time and date.
4. 
5. Use below script.

var alm = new GlideRecord('alm_hardware');
alm.query();
while (alm.next()) {
    (new DepreciationUtils()).calcDepreciation(alm)
}

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Regards
Runjay Patel - ServiceNow Solution Architect
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[Prakash_S]

Thanks @Runjay Patel  for quick help, will try this.

[Donna Edwards]

We have done this in our instance.  The depreciation amount is calculating according to our formula.  Our formula is Cost/number of months (useful life 5yrs-60mos).  example cost = 10,682.00, useful life is 5 yrs(60mos)  the monthly depreciation would be $10,682.00/60 =$178.03 per month.  The system does not seem to be calculating in this manner.

[Donna Edwards]

We have done this in our instance.  The depreciation amount is NOT calculating according to our formula.  Our formula is Cost/number of months (useful life 5yrs-60mos).  example cost = 10,682.00, useful life is 5 yrs(60mos)  the monthly depreciation would be $10,682.00/60 =$178.03 per month.  The system does not seem to be calculating in this manner.