A fixed asset schedule is the report the accountant asks for at year end: every capitalised asset on one sheet with its cost, its acquisition date, its useful life, the depreciation charged this year, the accumulated depreciation and the net book value, with totals that tie to the balance sheet. It is not a separate document from the register; it is the register printed for one date. This page gives the columns a fixed asset schedule template needs, works one asset through as an example, and explains why the schedule should be printed from the register rather than kept as a spreadsheet beside it.
The columns a fixed asset schedule template needs
Asset number, description and class. Acquisition date and cost. Salvage value and useful life. Depreciation method. Depreciation for the year. Accumulated depreciation at the year end. Net book value at the year end. Disposal date and proceeds for lines that closed in the year. Totals by class and for the whole schedule: cost, depreciation for the year, accumulated depreciation and net book value. The four totals are the ones that tie to the accounts, and a schedule without them is a list.
A fixed asset schedule example, one line worked through
A CNC router bought and installed for $18,500 on 5 September 2024, with a $1,500 salvage value and a five-year life, straight-line. At the year end two years later, the depreciation for the year is $3,400, the accumulated depreciation is $6,800 and the net book value is $11,700. If the router had been sold in the year for $12,000, the line would show the disposal date, the proceeds and a $300 gain against the book value on that date. The free fixed asset register worksheet on this site works exactly this line from the four inputs.
Why the schedule is printed from the register, not kept beside it
A schedule kept as its own spreadsheet is rebuilt every January from last year's copy, and every year something is missed: an asset disposed of that stays on the sheet, an addition entered at the wrong cost, a life changed without a note. A register that holds the lines with their history prints the schedule for any date, and the additions and disposals are the lines that opened and closed between two dates rather than a reconciliation someone performs from memory.
What the schedule is used for beyond the accounts
The insurer asks for it as the basis of the contents cover, usually wanting replacement value beside book value. The bank asks for it when the assets secure a loan. A grant officer asks for the federally funded lines, which 2 CFR 200.313 requires to be identifiable with their source and federal share. And the owner asks for it when selling the business, because it is the list of what the buyer is buying. One register, several prints.
Questions people ask about fixed asset schedule
What is the difference between a fixed asset schedule and a fixed asset register?
The register is the record with its history; the schedule is the register printed for a date, with the year's depreciation and the totals that tie to the accounts. Software keeps the register and prints the schedule.
Which depreciation method should a fixed asset schedule use?
Whichever the books use, consistently by class. Most small organisations use straight-line; the schedule states the method per line so the accountant can check the charge.
Do fully depreciated assets stay on the schedule?
Yes, at their salvage value, until they are disposed of. Removing them because they carry no charge is how organisations lose track of what they own.
Where can I get a fixed asset schedule template?
The columns above are the template. The worksheet on this site works one line; Depreo Pro keeps the lines and prints the schedule for any date under your own name.