Question 1

What depreciation methods does AssetLedger support?

Accepted Answer

AssetLedger supports MACRS GDS, MACRS ADS, straight-line, double-declining balance, sum-of-years digits, Section 179 expensing, bonus depreciation (100%, 80%, 60%), and partial-year proration with half-year, mid-quarter, and mid-month conventions.

Question 2

Can I track both book and tax depreciation?

Accepted Answer

Yes. AssetLedger maintains separate book (GAAP) and tax depreciation schedules for every asset, allowing you to see timing differences and generate reports on either basis.

Question 3

Is AssetLedger suitable for CPAs and accounting firms?

Accepted Answer

Yes. AssetLedger is designed for accountants, CPAs, and finance teams. It supports multiple clients/entities, has full audit trails, and produces printable fixed asset reports suitable for client deliverables.