Modules
Fixed Assets
Track capital assets and calculate depreciation.
Fixed Assets
Track equipment, vehicles, furniture, and other capital assets over their useful life.
Asset Fields
| Field | Description |
|---|---|
| Name | Asset description |
| Asset Number | Unique identifier (FA-001, etc.) |
| Purchase Date | When the asset was acquired |
| Purchase Price | Original cost (cents) |
| Residual Value | Expected value at end of life (cents) |
| Useful Life | Expected life in months |
| Depreciation Method | Straight line or declining balance |
Depreciation Methods
Straight Line
Equal monthly depreciation:
Monthly = (Purchase Price - Residual Value) / Useful Life MonthsDeclining Balance
Double-declining rate applied to net book value:
Monthly Rate = (2 / Useful Life Months)
Monthly = Net Book Value × Monthly RateRecording Depreciation
Click Record Depreciation on an asset to:
- Calculate the monthly depreciation amount
- Create a journal entry (DR Depreciation Expense, CR Accumulated Depreciation)
- Update the asset's accumulated depreciation and net book value
Use Run Depreciation on the assets list page to process all active assets at once.
Disposal
When disposing of an asset:
- Enter the disposal date and sale amount
- A journal entry records:
- DR Accumulated Depreciation (to remove)
- CR Fixed Asset (to remove)
- DR/CR Gain or Loss on Disposal
Asset Status
- Active — In use, being depreciated
- Fully Depreciated — Net book value equals residual value
- Disposed — Asset sold or scrapped