depreciation property type

A classification that determines an asset's depreciation method and depreciation period . In Archibus, general depreciation property types are defined in the Depreciation Property Types table, and tagged furniture and equipment assets are assigned to depreciation property types by completing their Property Type field.

Accounting principles stipulate that an asset must retain its property type classification over its depreciation period and that similar assets must be assigned the same property type designation within a given reporting period.