Fixed assets overview

Goal

Understand the fixed and intangible asset register: capitalize an asset, run depreciation, and dispose when it leaves service.

Who it is for

Asset clerk / accountant with asset.view / asset.manage. Setup needs asset.admin.

How assets fit the cycle

1. Create an asset (active) with code, name, type (fixed / intangible), acquisition date/cost, salvage, useful life (months). Depreciation method comes from setup (default straight-line).
2. Run depreciation for all active assets as of a date — posts one combined journal (depreciation expense vs accumulated depreciation) and may flip assets to fully_depreciated.
3. Dispose (or list delete which marks disposed) when the asset leaves — may require a disposal reason per setup.
4. Net book value = acquisition cost − accumulated depreciation (derived).

Open the screen

Operations → Fixed Assets. List actions include Run depreciation and New asset. Open an asset and choose Depreciation schedule to inspect the theoretical lifetime milestones: each projected monthly charge, lifetime accumulated depreciation, and net book value. Viewing this schedule does not post or adjust for charges already recorded.

Related

• Create an asset
• Depreciate and dispose
• Setup
• Journals