The Fixed Assets tab is for managing and tracking items of long-term value in a business, such as land, buildings, vehicles, or machinery. It allows users to efficiently and accurately log and monitor both the purchase and accumulated depreciation of these assets over time.
New Fixed Asset
To create new fixed asset, click New Fixed Asset button.
By default, you will see the following columns:
|Name||Description||Acquisition date||Acquisition cost||Depreciation||Book value||Status|
|Name||Name of Fixed Asset|
|Description||Description of Fixed Asset|
|Acquisition date||When was this Fixed Asset acquired|
|Acquisition cost||This is sum of all transactions allocated to this Fixed Asset|
|Depreciation||This is sum of all Depreciation Entries allocated to this Fixed Asset|
|Book value||This is Acquisition cost minus Depreciation|
|Status||Indicates whether Fixed Asset is active or disposed.|
Use Edit columns button to customize what columns should be visible under Fixed Assets tab.
Clicking Edit columns button allows you to add additional columns to better suit your business requirements.
|Code||Code of Fixed Asset|
|Depreciation rate||Depreciation rate of Fixed Asset|
|Control account||If you are using multiple Control Accounts, this column can show which Control account this Fixed Asset belongs to.|