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Depreciation Calculation Automation

Automate asset depreciation using straight-line, declining balance, or custom methods with tax compliance

Complexity: Moderate | Duration: 5-15m | Category: Operations/Process

Tags: #depreciation #accounting #tax-compliance #financial-reporting #automation

Workflow Diagram​

Steps​

Step 1: Asset Selection​

Agent: financial

analyst - Identify assets requiring depreciation calculation

Step 2: Method Selection​

Agent: accounting

specialist - Choose depreciation method (SL, DB, MACRS, custom)

Step 3: Parameter Configuration​

Agent: financial

analyst - Set useful life, salvage value, and acquisition date

Step 4: Calculation Execution​

Agent: accounting

specialist - Run depreciation calculations for period

Step 5: Tax Compliance Check​

Agent: tax

specialist - Verify alignment with tax regulations (IRS, local)

Step 6: Journal Entry Generation​

Agent: accounting

specialist - Create depreciation expense entries

Step 7: Book vs Tax Reconciliation​

Agent: tax

specialist - Track differences for deferred tax

Step 8: Financial Reporting​

Agent: financial

analyst - Update balance sheet and income statement

Step 9: Audit Trail​

Agent: audit

specialist - Document calculation methodology and assumptions

Step 10: Periodic Review​

Agent: accounting

specialist - Schedule annual useful life reassessments

Usage​

To execute this workflow:

/workflow operations/process/depreciation-calculation-automation.workflow

See other workflows in this category for related automation patterns.