How to define Depreciation Method for an Asset which is Licence of Software
Hi,
I have this business, please help me how to select/define Depreciation Method for it:
Buy an Licence of Software with cost 300$. Follow government, it must be manage as an asset, an prorate as follow:
- Year 1: 60% --> 180$
- Year 2: 30% --> 90$
- Year 3: 10% --> 30%
For each year, we must use method Straight Line daily to depreciate the value of year.
Please guide me how to setup method to meet the required formula. Many thanks!
2