Itefy automatically calculates the depreciation of your assets so you don’t have to. To make the most of this, enter your item's purchase date and value while you have it to hand.
- Click the Purchase information dropdown. Let’s select yesterday’s date and enter the value: $120.
To get the most from this feature, add the estimated Expiry date and Salvage value when the item reaches the end of its useful life.
Let’s enter an expiry date in 5 years' time, and salvage value: $20.
Pro tip: Itefy uses the straight-line depreciation method. Depreciation does not apply to inventory.
Pro tip: Change your currency by selecting Account under the Settings dropdown on the sidebar. Under the Account tab, you can select any currency to display your assets' value and related expenses.
