Add a fixed asset
Go to Fixed Assets and click Create Fixed Assets → Fill in forms.
Under Asset details, enter:
Asset label: your tag or code, e.g. IT-001.
Asset name, e.g. MacBook Pro 16-inch.
Acquisition date and Acquisition amount.
Optionally the Supplier, Tax and Description.
Under Asset depreciation, enter:
Depreciation period: Monthly or Yearly.
Depreciation duration: how many periods, e.g. 36 months.
Salvage value: what it will be worth at the end, if anything.
Depreciation method: Straight line or Declining balance.
Depreciation start date.
Tick Add payment information if you've already paid for it.
Under Entry accounts, pick the Asset account (e.g. Computer equipment). Check the Depreciation account and Accumulated depreciation account.
Optionally set the Branch, Custodian (who looks after it), Department and Project, and add attachments.
Click Save as and choose Draft or Active. An active asset starts depreciating from its start date.
Track it
The Fixed Assets list shows each asset's Acquisition Cost, Balance (what's still owed to the supplier), Status, Depreciation per period and Book Value.
Open an asset and choose the Schedule tab to see every depreciation date, amount, cumulative depreciation and book value.
With straight line, the $3,200 laptop with a $200 salvage value over 36 months depreciates by $83.33 a month: ($3,200 − $200) ÷ 36.
Asset actions
Click ⋮ on an asset, or Actions on its page:
Action | Use it to |
Edit / Duplicate | Change it, or copy it for a similar asset. |
Manage payments | Record what you've paid the supplier. |
Dispose | Record selling or scrapping it: the Disposal Date, Disposal Amount, accounts and customer. |
Void | Undo an asset recorded by mistake. |
Add many assets
Use Create Fixed Assets → Import Excel for a fixed asset register, or Ask Adam to describe your assets in plain words.