Please explain depreciation calculation process. It is auto or what?

Ankita34
Giga Contributor

‎02-16-2022 07:07 AM

Please explain depreciation calculation process. It is auto or what?. Please let us know wheter depreciation amount is calculated automatically or not.,

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Besart Kaza
Tera Contributor

‎02-16-2022 09:26 AM

Short answer is YES it is auto. 

Longer more meaningful answer:

  1. Navigate to Asset > Portfolios > Hardware Assets.
  2. Select an asset.
  3. Fill in the Depreciation, Depreciation effective date, Salvage Value, and Covered by fixed asset fields as described in Create assets.
    Consider these points.
    • If the depreciation effective date is in the future, depreciation is 0 and the current, residual value is the original purchase price. The system does not begin to calculate depreciation until the effective date is reached.
    • The salvage value must be less than or equal to the asset cost. If a salvage value greater than the cost is entered, a warning message appears and the record cannot be saved.
  4. Right-click the header and click Save.
  5. Click Calculate Depreciation.
    The Residual date, Residual value, and Depreciated amount fields are automatically calculated.



A depreciation schedule can be added to hardware assets. Based on the information specified in the asset record, the ServiceNow platform calculates the depreciation amount daily using the "Calculating Depreciation" scheduled job.

More info and procedure found on this article:
Add depreciation to an asset | ServiceNow Docs



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