Depreciation and tax books from one asset register
VenturusEAM previews every asset’s monthly depreciation, accumulated depreciation and net book value, then posts one journal for the month from the company’s posting book. The same register runs a federal MACRS book with Section 179 and bonus depreciation, and a Canadian CCA book with the UCC roll-forward for each class.
18 capabilities on this page’s part of the platform
Fixed assets / Depreciation run
October 2026 depreciation
Company 100 · Financial book (posting)
- Monthly depreciation
- $184,260.42
- Assets covered
- 471
- Correctly zero
- 15
- Not configured
- 0
| Asset | Method | Monthly | Accumulated | Net book value |
|---|---|---|---|---|
| CNC-04 · VMC | Straight line | $3,433.33 | $99,566.66 | $312,433.34 |
| PR-02 · Press | Straight line | $1,491.67 | $59,666.67 | $208,833.33 |
| RB-02 · Weld robot | Straight line | $1,927.08 | $36,614.58 | $148,385.42 |
| LT-01 · Lathe | Straight line | $1,142.86 | $69,714.29 | $26,285.71 |
| AC-02 · Compressor | Straight line | $451.67 | $32,068.34 | $22,131.66 |
| LAND-P2 · Plant 2 land | Non-depreciable | $0.00 | $0.00 | $640,000.00 |
Journal to post
- Dr depreciation expense $184,260.42, Cr accumulated depreciation $184,260.42.
- October is open. A second post for this book and month is refused.
A monthly run you can check before it posts
Pick the period, review the preview for every asset, and post one journal: debit depreciation expense, credit accumulated depreciation. Totals say how many assets they cover and list land, fully expensed and not-yet-in-service assets as correctly zero, so an unknown is never summed as zero. A forecast by book shows future depreciation and the variance of posted against planned.
Monthly depreciation run
Pick the period, review the calculated amount, and post one depreciation journal for the month from the company's posting book.
Fleet depreciation preview
See monthly depreciation, accumulated depreciation and net book value for every asset before you post, and export it to CSV.
Depreciation schedule for any asset
Open a period-by-period schedule for one asset as of any date, showing the method and convention that produced the numbers.
Register, reports and ledger agree on convention
The monthly GL posting applies the book's convention, and the schedule reports read the same book, so the register, the reports and the ledger show one number.
Depreciation forecast and posted-versus-planned variance
Project future depreciation by book and compare what posted with what was planned.
Methods and conventions your books use
Straight line, double and 150% declining balance with the switch to straight line, sum-of-the-years’-digits and units of production from asset meter readings are all available. Ten first-period conventions plus mid-quarter and modified half-year apply in the schedule, the register and the GL posting, so all three show one number.
Declining balance (200% and 150%)
Depreciate with double declining balance or 150% declining balance, switching to straight line when that gives the larger amount.
Sum-of-the-years'-digits
Depreciate with sum-of-the-years'-digits for assets that lose value fastest in their early years.
Units of production
Depreciate a machine by the hours or units it actually ran, using its meter readings.
Mid-quarter and modified half-year conventions
Apply the mid-quarter convention when more than 40% of a year's additions land in the fourth quarter, and the modified half-year convention where it applies.
MACRS, Section 179, bonus and Form 4562
The federal tax book runs MACRS for 3 through 39-year property with half-year, mid-quarter and mid-month conventions and no salvage floor. Section 179 and bonus depreciation are elected per asset and reduce basis before MACRS, the Form 4562 worksheet applies the Section 179 phase-out, and the book-to-tax report shows temporary differences for deferred tax.
Form 4562 worksheet
Review Form 4562 figures for a tax year and company: Section 179 elections with the phase-out, bonus depreciation, and MACRS by recovery class and convention.
MACRS tax book
Run a federal tax book on MACRS, with real property on its own tables and every convention applied.
US tax reference tables
See MACRS recovery classes, conventions, Section 179 limits, bonus depreciation rates and vehicle limits by tax year in one place.
Section 179 and bonus depreciation
Elect Section 179 and bonus depreciation per asset under current law, and carry the reduced basis into MACRS.
Book-to-tax difference report
Compare corporate book and tax book values per asset to support deferred tax.
Canadian CCA classes and the UCC roll-forward
The CRA capital cost allowance classes are loaded with their rates, half-year rule and accelerated incentive flags. For each class the CCA schedule runs opening UCC, additions, dispositions at the lesser of proceeds and capital cost, the half-year adjustment, CCA, recapture, terminal loss and closing UCC, aligned to Schedule 8.
CCA schedule and UCC roll-forward
Calculate each CCA class's claim for the year: opening UCC, additions, dispositions, half-year adjustment, CCA, recapture, terminal loss and closing UCC.
Canadian CCA classes
Keep the CRA capital cost allowance classes with their rates and rules, ready for your tax book.
Suggested CCA class for each asset
Suggest a CRA class for each asset from its type and in-service date, for an accountant to confirm or change.
CCA data entry and Schedule 8 figures
Put an asset in a CCA class, record tax dispositions, apply the enhanced first-year rates, and produce the Schedule 8 figures.
VenturusAI
VenturusAI suggests a CCA class. An accountant decides.
When the Canadian tax book is set up, VenturusAI suggests a CRA class for each asset from its type, cost and in-service date, such as Class 8 for general equipment or Class 53 for manufacturing equipment. It never suggests limited-life classes that need judgment, and it leaves the class blank when the deciding cost or date was never recorded.
How VenturusAI worksSuggested Canadian tax class for each asset
Rules propose a starting class for each asset. The accountant overrides any suggestion before tax balances are relied on.
Related
Common questions
Can the tax book use a different method from the financial book?
Yes. Each asset carries an effective-dated method, life and convention per book, so the financial book can run straight line while the federal tax book runs MACRS with bonus. Book and tax values show side by side on the asset.
Does it handle Section 179 and bonus depreciation?
Yes. You elect Section 179 and bonus per asset under current law, including 100% bonus for qualifying property, and basis is reduced before MACRS so nothing is counted twice. The Form 4562 worksheet totals both by tax year and company.
What happens if an asset is missing its life or in-service date?
The run stops and lists every asset that needs attention, naming the missing field. Nothing posts on a guessed number, and screens show Not configured rather than $0.00.
Do you support Canadian capital cost allowance?
Yes. The CRA classes are loaded with their rates, and the CCA schedule calculates each class’s claim and closing UCC, with short fiscal years prorated by days and CSV and Excel export.
The plant never stops. Neither does the record.
Bring an asset list and a month of work orders. We will load them and walk through your own plant in VenturusEAM, from the purchase order to the depreciation run.