Campfire manages depreciation across all assets by running scheduled calculations that allocate costs over their useful lives. Each asset follows its assigned method, with depreciation recorded automatically for every period. When asset details change, such as revaluations, impairments, or updates to useful life, schedules are recalculated to reflect the new position. Journal entries are created and posted without manual effort, ensuring expenses and accumulated depreciation are always accurate and up to date.
Campfire supports a range of depreciation methods, including straight-line, reducing balance, and usage-based approaches. Assets can be tracked across multiple books, allowing separate calculations for financial reporting, tax, and internal management. This enables organisations to meet different reporting requirements without duplicating data. The system also handles partial periods, timing differences, and jurisdiction-specific rules, ensuring depreciation is calculated correctly regardless of when assets are acquired or how they are used.
Campfire runs depreciation on a set schedule, processing the full asset portfolio in a single cycle. Each run calculates the correct expense for every asset and generates the corresponding journal entries. Teams can review results before posting, providing an extra level of control. Once confirmed, entries are sent to the general ledger with full detail. Historical depreciation records are retained for every asset, supporting audits and giving finance teams a clear view of how asset values have changed over time.
Why Campfire Stands Out
