This guide walks you through how to set up asset depreciation in CASM. Tracking depreciation in CASM keeps your financial records accurate and transparent. It also helps you understand the true value of your assets over time, ensures realistic resale values, and maintains an audit-ready financial trail.
Step 1: Navigate to the Asset Category Settings
Click on the settings icon to access the configuration section.
Select Assets > Categories.
Step 2: Add in the Asset Category’s Depreciation Terms
Click the edit icon next to the category you want to update.
Enter the depreciation term for that asset category. Tip: Make sure it aligns with your company’s asset management policy and the notes in your annual financial statements.
Step 3: Ensure your Asset Value data is correct
Go to My Assets.
Filter by the category you’ve just set the depreciation term for.
Edit any asset in that category using the edit icon.
Confirm that you’ve added the purchase date, purchase cost, and salvage value.
CASM will automatically calculate the current book value and remaining useful life.
Step 4: Pull an Asset Depreciation Report
Navigate to Reports > Financials > Life Cycle Depreciation
Use filters to view data by category.
The Life Cycle Depreciation report shows:
Current depreciation value
Cumulative depreciation value
Net asset value
The Summary Report groups depreciation data by each company’s financial year-end.
All reports can be exported to Excel.
Additional Notes:
Each asset has both a Purchase Date and a Commission Date. The commission date is useful for assets that sit idle before being used. Decide whether your business will calculate depreciation from the purchase or commission date, and apply this consistently across all assets.
The Life Expectancy field is helpful for clients who prefer not to input financial data into CASM but still want visibility of asset age.
