Fixed Assets & Depreciation
Maintain fixed-asset records and depreciation plans, calculate period depreciation with the selected method, then post reviewed entries through vouchers.
See what this module handles, how to review it and how its results reach the ledgers.
Keep the key details for each fixed asset
Record the category, original cost, residual value, depreciation start date, useful life, department and plan for each fixed asset. Link invoice documents to an asset so the source can be reviewed with the record.
Choose from three depreciation methods
Use the method selected for the business: straight-line, double-declining balance or sum-of-the-years'-digits. Review the plan and calculated depreciation by period.
Review the period result before posting entries
Check the asset details, period and amount before recording the accounting entry through vouchers. Posting the voucher updates the ledgers with the depreciation amount.
Record asset changes and disposals with the asset
Record changes to the assigned department, depreciation plan or asset disposal against the actual asset. Accounting depreciation and tax treatment are maintained separately; one result does not replace the other.
