Hi
I am trying to set up a form for Household Inventory that allows for depreciation. I am not even sure what fields to include to do the above, or how to ‘program’ it!!!
What I am after is a calculation that shows the effect of time passing on an original cost.
e.g Item cost £100 in 2010. Allowing for a fixed annual depreciation of 10% when viewing form in: 2011 Depreciation shows £10, item worth £90
2012 Depreciation shows £9, item worth £81
2013 Depreciation shows £8.1 item worth £72.9
Is this possible? If so, what fields do I need and how do I set up the calculations?
Powere users – HELP!
Cheers
tony
Tony,
I see what you mean and want. This is only possible if you set all the years in one form. Different form calculations are not possible in TF.
here is an example:
Number field Cost = 1000
calculated field year 1 = Cost / 100*90 i.e. 10% less
calculated field year 2 = year 1 / 100 * 90 and so on.
This way you can also take different % per year, just change the 90 into what you like
Leo
Depreciation is normally calculated based on the Estimated Useful Life of the item. So, you could set up the following fields:
Purchase Price [number field, currency format]
Purchase Date [date field]
Est Useful Life (Yrs) [number field, decimal format, 0 decimal places]
Depreciated Value [calculation field, with the following formula]
[Purchase Price]-(($now-[Purchase Date])*([Purchase Price]/([Est Useful Life (Yrs)]*365.25*24*60*60)))
The formula works out the depreciation from the purchase date to now (based on the depreciation per second over the estimated life).
Hope this helps
John P
Many thanks for that John P
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