Hi, I’m Anand, maintainer of the Assets module. In ERPNext, we calculate the WDV rate of depreciation only once at the beginning based on the asset’s purchase amount. We then use that rate to calculate the depreciation schedule for all the years of the asset’s life.
Recently an Indian customer got in touch with us and said that our way is incorrect. Their CA calculates a different rate of depreciation for each year of the depreciation based on the asset’s opening value of that year. Here’s the sheet their CA shared: Computation.xlsx - Google Sheets.
I think they’re correct, but didn’t find any supporting resources online. If anyone has any idea, please share.