Fixed Asset Register Template in Excel: Asset List, Straight-Line Depreciation and Book Value
A fixed asset register template in Excel for small businesses: what to record for each asset, straight-line depreciation by year and to date, net book value, additions, disposals and a yearly physical count, with a landscaping company example.
A fixed asset register is the list of a business’s long-lived assets (equipment, vehicles, furniture, computers) with their cost, in-service date, useful life and the depreciation that belongs to each year. Kept in Excel, it tells you what you own and where it is, what each item is worth on the books and how much depreciation expense goes into the profit and loss statement. This guide covers the columns, straight-line depreciation formulas and an example.
Register columns
| Column | Example |
|---|---|
| Asset tag | FA-012 (also on a label stuck to the item) |
| Description and serial number | Zero-turn mower, serial number |
| Location and custodian | Equipment yard, crew lead |
| In-service date | Date it started being used |
| Cost | Purchase price plus delivery and setup |
| Useful life (years) | 7 |
| Salvage value | What you expect to get at the end |
| Invoice and vendor | Invoice number, so it can be found |
| Status | In use, out of service, disposed |
Straight-line depreciation formulas
- Annual depreciation:
=([@Cost]-[@Salvage])/[@Life], or Excel’s built-in=SLN([@Cost],[@Salvage],[@Life]). - Accumulated depreciation at a date:
=MIN([@Cost]-[@Salvage],[@Annual]*YEARFRAC([@InService],ReportDate)), which prorates the first year and never exceeds the depreciable amount. - Net book value:
=[@Cost]-[@Accumulated] - Depreciation for the year: accumulated at this year end minus accumulated at last year end.
Book depreciation and tax depreciation are often different. For federal taxes, the IRS uses its own systems and elections, such as MACRS, Section 179 and bonus depreciation, which can write off assets faster. Use the register for management and book figures, and let your tax preparer handle the tax side.
Example: a landscaping company’s assets
| Asset | Cost | Life | Salvage | Annual depreciation |
|---|---|---|---|---|
| Zero-turn mower | $14,000 | 7 years | $1,400 | $1,800 |
| Equipment trailer | $6,500 | 10 years | $500 | $600 |
| Pickup truck | $42,000 | 6 years | $12,000 | $5,000 |
| Laptop and tablet | $2,400 | 3 years | $0 | $800 |
| Total | $64,900 | $8,200 |
The business records $8,200 of depreciation expense a year even though no cash leaves the account that year. If the mower went into service on July 1, the first year carries only six months: $900. The register also shows that the laptop and tablet will be fully depreciated in three years, a useful prompt to budget for replacements.
Additions, disposals and the yearly count
- Additions: when the invoice arrives, create the row and put the tag on the item.
- Disposals: when you sell, scrap or lose an asset, record the date and reason; the difference between book value and what you received is a gain or loss.
- Physical count: once a year, walk the business with the list and confirm what is there and its condition.
- Assets that need regular servicing go into the preventive maintenance schedule; vehicles also into the fleet management spreadsheet.
How it connects to your financial statements
Net book value appears under property and equipment on the balance sheet, and the year’s depreciation as an expense on the profit and loss statement. The matching entries go in the general ledger. More guides are in Bookkeeping & Income Tracking.
Frequently asked questions
What counts as a fixed asset?
Items the business uses for more than a year and does not hold for sale: equipment, vehicles, furniture, computers, improvements to premises. Many businesses also set a minimum cost below which items are simply expensed.
What is straight-line depreciation?
Spreading the cost of an asset, minus its salvage value, evenly over its useful life.
How is net book value calculated?
Cost minus accumulated depreciation to date.
Does it work in Google Sheets?
Yes. SLN, YEARFRAC and MIN work the same way.
