I want to calculate depreciation in ERP Next using my own rates. It seems there is no option of adding my own rates so it calculates using it’s own rate instead, how do I customise so that I can add my own rates
You need to put the depreciation in the number of period, which will enable you to calculate your custom depreciation rate.
For example, for the 10% depreciation rate number of period will be 120 months.
Like wise you can use the below formula:
Number of period = (12/ rate of depreciation) * 100
Thank you very much it worked.
Does this formula apply for all depreciation methods?
This formula is for the Straight-Line Method, for other method you may need to use different formula, you can google the formula.