Excel Depreciation Calculator FY 201516 Companies Act 2013, Schedule-II V-2.10

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Excel Depreciation Calculator FY 201516 Companies Act 2013 as per Schedule-II Version 2.10

What’s new in version 2.100?
In the new version 2.10, an error showing incorrect depreciation for useful life in certain brackets has been corrected.

The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015 and has been downloaded 134389 times till date (25/03/2016).

The ABCAUS calculator for FY 2015-16 is also formulated and styled the same way as its predecessor so that users find themselves familiar with it.

This calculator is meant for companies following April to March Financial year. Also the calculator is meant only for tangible assets. Like, in last year useful life of the assets purchased during the FY 2015-16 is taken in integers only.

Any error or suggestions may please be reported at info@abcaus.in

Alternatively, users may subscribe to ABCAUS Newsletter to know the coming updates. Please note that ABCAUS Newsletter Feed link has changed wef 05/03/2016 and users should subscribe afresh at the following link Click Here >>

The utility is password protected
The utility is password protected. To get the password users are requested to subscribe to ABCAUS Newsletter Click Here >> On successful subscription activation, request a password at info@abcaus.in with your name, address and contact number. The password shall be sent to the email used for the subscribing to ABCAUS Newsletter.

It has been observed that many of emails requesting do not complete the requisite steps. Therefore you are advised to make sure that the following steps are taken before applying for a password:

  • Subscribe to ABCAUS email updates
  • Activate the subscription by clicking link sent to your email inbox (also check in junk/spam)
  • Apply for password giving the following details
  • Complete Name
  • Occupation
  • Complete Address
  • Mobile Number

Please note that emails that do not follow the steps as above or give short/incomplete details are moved to trash immediately and not replied.

Saving the file to your local computer disk
Please note that while downloading this utility save it as either Excel 97-2003 (xls) or Macro Enabled sheet in Excel 2007 or later versions (.xlsm) Only

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Also , after you have received your one time password, you can remove it from Excel Menu. For example in Excel 2007 it can be removed from following steps.

remove encryption excel 2007

How to use this calculator?
The calculator has been divided into five part as under:

(a) Assets
(b) Opening Details
(c) Additions
(d) Opening Deletions, and
(e) Depreciation Chart
In each part only “grey” fields are required to be filled.

Assets
Assets database should be created by providing names of the assets and by selecting the asset type as per schedule-II. Please note that no two names should be identical. If for example there are multiple computers, they should be written in different rows as computer1, computer2…and so on.

Since, you must be having the individual asset-wise list of closing wdv as on 31/03/2015 or the depreciated value of the asset as on 31/03/2014 (for SLM purposes), creating this database should not be a problem.

Please note that new assets purchased during FY 2015-16 should also be created in this database. Again, please bear in mind that they should also be unique and not bear an identical name to an existing asset.

For example: You have opening wdv of the block furniture individually for each asset (say, “furniture1”, “furniture2”, “furniture3”) and if during FY 2015-16 there is another addition to the block furniture, then a new nomenclature (say, “furniture4”) should be used in the asset sheet. In the “new addition sheet” this new furniture “Furniture4” is required to be selected for calculating depreciation on new additions.

Opening Balances:
Since the users must be having individual asset wise closing wdv as on 31/03/2015, the details required in the opening sheet should be filled using the wdv list as on 31/03/2015

For SLM purposes, depreciated book value of the assets should be filled in column B.

In the Opening Balance Sheet, the following particulars are required to be given:

  • Name of assets > fill as per closing wdv list of 2014-15
  • Depreciated value of asset as on 01/04/2014
  • WDV as on 01-04-2015 > as per closing wdv list of 2014-15

If useful life of the asset was zero as on 01/04/2014 it would be equal to the residual value.

  • Remaining useful life > as per useful life as on 01/04/2014 minus one year
  • If useful life zero as on 01/04/2014 > as per useful life as on 01/04/2014
  • If asset has been sold during FY 2015-16 > select Yes or No from drop down
  • Estimated residual value > as estimated during FY 2014-15
  • Depreciation Rate > The rate as calculated in FY 2014-15 should be filled
  • Rest of the values shall be calculated automatically
  • Date of format should be dd/mm/yyyy
  • No field should be left blank.

Additions made during the year

  • Date of format should be dd/mm/yyyy
  • For each new additions, first they should be created in ‘Assets” sheet.
  • For new additions made during the year, residual value has been taken @ 5% by default.
  • If any disposal has been made out of additions during the year, its details must be filled in columns ‘f” and “g” after selecting “Yes” in column “e”

Opening-Deletion

  • This sheet accounts for any deletion that has been made out of the opening assets, (i.e.; out of opening sheet)
  • Only those assets which have been disposed off during FY 2015-16 should be selected under assets name list.
  • If you have selected “yes” against any asset in column “f” in opening sheet, the same asset must be selected here
  • Date of format should be dd/mm/yyyy
  • Date of purchase of disposed asset should be available as per depreciation chart for FY 2014-15.
  • This sheet must be filled after completing the ‘Opening sheet”

Depreciation Chart It should be automatically calculated.

See Video Tutorial:

The calcultor is meant to guide and help in calculating the depreciation, the disclosure requirements have to be separately taken care of.

Also the WDV written off should be charged either to reserves and surplus or profit and loss account.

Similarly, Profit or loss on the disposal of assets should be reflected in profit and loss account.

Download ABCAUS Excel Depreciation Calculator Here:

Have you carefully read the guidelines on how to get the password?

1. Subscribe to ABCAUS Newsletter
2. Send email to info@abcaus.in with following details requesting password and download link

Complete Name
Complete Address
Description of your service/Occupation
Mobile Number
3. Add info@abcaus.in to your email address book so that password mail do not land in junk or spam folder

Please note that by requesting password you agree to the terms of use that you do not have permission to modify, copy, edit, upload, reproduce, republish, distribute or transmit the utility except with the written prior approval. Suitable actions have already been initiated against users found indulged in unauthorised practices.

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