Free Depreciation Schedule Template (Excel)
What's in the depreciation schedule template
The template is a single Depreciation Schedule sheet with one row per fixed asset: asset name, the year you purchased it, cost, salvage value, useful life in years, how many years it's been in service, and a method dropdown.
You can track up to 40 assets in the sheet, from a laptop or vehicle to equipment and leasehold improvements, all in the same register with a running total row at the bottom.
Because every asset lives in one place with the same columns, it's easy to see your whole fixed-asset base at a glance instead of digging through separate files or purchase receipts each time you need a number for the books.
Straight-line vs double declining balance
Pick a method per asset from the Method dropdown: SL for straight-line, which spreads the cost minus salvage value evenly across the useful life, or DB for double declining balance, which front-loads depreciation in the earlier years.
The DB formula is floored so book value never drops below the salvage value you entered — it won't over-depreciate an asset past what it's actually worth on paper.
This is a planning and bookkeeping tool, not tax advice. MACRS rules used on US tax returns work differently (fixed IRS tables, different conventions), so confirm the tax treatment of any asset with your CPA before you file.
What calculates automatically
Enter the asset's cost, salvage value, useful life, years in service and method, and the sheet computes annual depreciation, accumulated depreciation to date, and current book value — no formulas to build or copy down yourself.
The current-year figures update the moment you change years in service, so you can move an asset forward each year (or model a mid-life scenario) just by editing that one cell.
A summary row totals cost, accumulated depreciation and book value across every asset, and a chart plots book value by asset so you can see which assets have depreciated the most at a glance.
Who this depreciation schedule is for
Small business owners and bookkeepers who need to track fixed assets for internal reporting or to hand a clean schedule to their accountant at tax time are the main fit — no accounting software subscription required.
It also works well for anyone budgeting for equipment replacement: watching book value trend toward salvage value on the chart tells you roughly when an asset is fully depreciated and due for a refresh.
Because the file is just Excel or Google Sheets, you can keep it alongside your other bookkeeping records and update it once a year without learning a new tool.
How to use it
- Add one row per fixed asset: name, purchase year, cost, salvage value, and useful life in years.
- Choose SL (straight-line) or DB (double declining balance) from the Method dropdown.
- Enter years in service for the current year — annual depreciation, accumulated depreciation, and book value calculate automatically.
- Check the summary row for total cost, total accumulated depreciation, and total book value across all assets.
Download the free Free Depreciation Schedule Template (Excel)
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Small Business Bookkeeping & Tax Dashboard
If you also need Schedule C categorization, a quarterly tax set-aside, and a CPA-ready export for the rest of your books, the paid Bookkeeping template ($19) covers your full year, not just fixed assets.
See the full versionFrequently asked questions
Can I use this depreciation schedule template in Google Sheets?
Yes. Upload the downloaded file to Google Drive, then open it and choose File > Save as Google Sheets. All the formulas keep working.
Is this template really free?
Yes. You give an email address to download it, and then it's yours to use with no further cost.
Does it handle MACRS for US tax filing?
No. It calculates straight-line and double declining balance for planning and books, not MACRS. Talk to your CPA for the tax depreciation method and schedule your return actually requires.
How many assets can I track?
The template ships with 40 rows, one per asset, plus a running total. Add more rows and copy the formulas down if you need extra capacity.
Does it build a year-by-year table automatically?
No. You enter the current 'years in service' per asset and the sheet calculates that year's figures. It's not a full multi-year projection table.
What's the usage license?
Personal use or use within one business. It's not meant to be resold or redistributed as a template product.