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The calculation of depreciation in AssetIT is based on the straight-line depreciation method:
Depreciation Per Day:depreciationPerDay=purchaseCost(depreciation.term×30)\text{depreciationPerDay} = \frac{\text{purchaseCost}}{(\text{depreciation.term} \times 30)}depreciationPerDay=(depreciation.term×30)purchaseCost
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Asset Age:
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Current Value:
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By following these calculations, AssetIT ensures that the depreciation is accurately tracked for all assets, providing a clear view of their current value over time.