The total amount of depreciation taken over the entire life of the asset should equal the depreciable cost (cost minus salvage value). In this article, we'll teach you how to make a depreciation worksheet in Excel, from assembling column headers to entering formulas.Enter the name of the individual asset or group of assets being depreciated (e.g. Van, copier, computers). This straight line depreciation template demonstrates how to calculate depreciation expense using the straight line depreciation method. Excel offers five different depreciation functions. Today I'm going to show you how to prepare a depreciation schedule with excel. Here's how you can set up a simple depreciation schedule in Excel: In your spreadsheet, create a new table or section for your schedule. To calculate the depreciation value, Excel has built-in functions. So open up your sandwich, I mean spreadsheet (although I could go for a sandwich right now) and let's get started!