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How to use the SYD Function in Excel (2 Easy Steps)

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Duration: 5:25
Submitted: 5 months ago
Views: 265

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In this video we are going to learn another way to calculate depreciation, i.e. SYD Function in excel. The SYD function Returns the sum-of-years' digits depreciation of an asset for a specified period.

This can be a really useful tool for businesses that want to track the depreciation of their assets over time. In just 2 easy steps we will be able to use this function in our Excel spreadsheets!

What is SYD Function?

 

The SYD function stands for Sum of Years' Digits, and is a way to calculate depreciation. This function takes into account the number of years an asset will be used, as well as the salvage value (or end-of-life value) of the asset.

As Previously we have done - SLN Function in excel which is also another method of calculating depriciation in excel.

How to use SYD Function?

In order to use the SYD function, we first need to enter the following formula into our Excel spreadsheet:

=SYD(cost, SalvageValue, life)

The cost is the initial purchase price of the asset. The salvage value is what we expect to receive for the asset when it is sold or retired. The life is how many years we expect the asset to be used.

Once we have entered this formula, Excel will return the depreciation for that asset over the given period. This can be a really useful tool for businesses that want to track the depreciation of their assets over time!

Hopefully you now have a better understanding of how to use the SYD function in Excel. This can be a really useful tool for businesses that want to track the depreciation of their assets over time. Be sure to check out our other videos for more tips and tricks on using Excel!