Accounting /Asset Depreciation Software Help Needed

6 replies
Found 21st Jun 2010
Hi I've just took over the job of treaurer of my locl club and the old one did a great job, but now the members have asked me to do and audited asset account too )I do this voluntarily so think its blooming cheeky off them but hey ho)

The "money" accounts and the asset list are in Excel, but am prepared to change I'm prepared to change if its worth it.

Looking for advise on software that will help me witht he depreciation, have to go back upto 8 years for some of the stock (oh joy!!) .

Does anyone know of a good package that reasonable and don't really want to pay a yearly fee, just buy it straight out or download it for free.

I know what I'm doing and at work I use Sage, but to be honest the club isn't big enough for all the input Sage needs.

Thanks for your input and any help would be appreciated.


Have you tried sourceforge.net which has open access software which is free. I believe there is GNU cash

Other options include Microsoft accounting which is free but hard to obtain ( they cease to support it so no longer available for download direct) and MYOB which was free and often is given away as part of software on magazines

Not an expert here but:
If you are already using excel then I suggest you stick with it. Should you move on for any reason then it will be easier for somebody else to pick up.

I would suggest using a straight line deprecation. If not already done, list all the assets on an excel sheet, you need purchase price, purchase date and a sensible economic life.

From the determined life calculate an annual depreciation factor for each item.

Then you can just use a simple formula to show value in each year after depreciation has been deducted.

As new assets are purchased just add them to the list.


In business ,I've tried all sorts of programs over the years , MSMoney ,Sage,MYOB and lots of decent free ones but my main problem was the inability to produce Estimates as well as Quotations for my particular needs. Most seem to be setup for Sales and Invoices. MYOB has an excellent database for customers and tracks how much they have spent etc, but I suspect this sort of software is not what you need .I do however ,recommend Quicken .I've used a early version for 15 years to do my personall accounts and find it is excellent for keeping a track of spending and sales.You set up your bank accounts ,credit cards ,investment accounts etc , set up your payments ie standing orders or direct debits etc and everything will be tracked giving detailed snapshots of expenditure.Backups are made onto floppys or flashdrives .I have 15 years of backups on 1 single floppy disk . It will give you your assets ,profits and loss but I dont think it will deduct depreciation.
My version of Quicken came on 2 floppy disks and was designed for Windows95 , but lt works without any problems on XP.

I know many large organisaions who still have fixed asset registers running in Excel. They will use this to depreciate assets and then this would be manually reconciled to the ledger (or in your case money accounts) each month to ensure that depreciation is properly expensed. In order to comply with accounting practice you will need to depreciate straight line. I assume that your club is profit making but if your a charitable organisation have a look at the CIPFA website which would be applicable to your organisation. If you need an idea of depreciation rates try 3 years for vehicles, 5 years for computers, 10 years for furniture, 15 years for fixtures and 50 years for buildings. i havent answered your question here but hopefully it was of some help

1- Use Excel

2- Add the assets bought during the year in list

3- Use the same depreciation method used last year

4- copy same formulas as last year

You cannot produce audited accounts as you have to be registered auditor to do so.
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