Fixed Asset Management

Define unlimited fixed asset types and link them to default accounts that populate automatically when an asset of that type is created.

Associate an expected useful life with an asset type so it is entered automatically on new asset records.

Organize and index fixed assets in a hierarchy according to their nature and your requirements.

Use a fixed asset record with a range of fields, including:

Purchase date and in-service date

Depreciation details: opening accumulated depreciation, current-year depreciation, current-year closing depreciation, total accumulated depreciation, depreciation method, and expected useful life.

Historical cost, carrying amount, and residual value

Summaries of asset transactions in prior years and the current year.

A tab showing detailed asset transactions.

Record asset purchases, acquisition costs, improvements, maintenance, disposals, sales, revaluations, and damage.

Create flexible fixed asset depreciation vouchers with settings for:

Depreciation period
Branch and depreciation voucher code
Voucher currency and its exchange rate against the base currency
Depreciation voucher description
Assets to be depreciated