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To create a new depreciation rule in AssetIT, follow these steps:

• Click on "Create New"

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• on the top right of the Depreciation List page.

• Fill in the

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• fields of:

1. Depreciation Name: Enter a descriptive name for the depreciation rule. This helps in identifying the rule easily

   . For example

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2. E.g.:

   1. "Office Equipment 5-Year Depreciation"

   2. "IT Equipment 3-Year Depreciation"

   3. "Vehicle 7-Year Depreciation"

3. Number of Months: Specify the number of months over which the asset will be depreciated.

   For instance:

   E.g.: "60 months" for a 5

   -year depreciation period."36 months" for a 3

   -year depreciation period.

4. "84 months" for a 7-year depreciation period.

5. Minimum Value after Depreciation: Enter the minimum value that the asset should retain after the depreciation period. This ensures that the asset's value does not drop below a certain threshold, even after full depreciation.

   For example:

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"50" if the asset should not depreciate below $50.

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• Click on “Submit” to save the new depreciation rule.