Track the things you own, over their whole life.
What you will learn
- How an asset is registered, from documents or by hand.
- How depreciation spreads its cost.
- How disposal removes it and books the gain or loss.
Overview
Fixed Assets tracks the things your business owns and uses over time: it records what you bought, spreads the cost through depreciation, and handles disposal, keeping Finance in step at every step.
Features in this function
- Assets – the register of what you own
- Asset Category – groupings for your assets
- Depreciation – spread the cost over its life
- Disposal – sell, scrap or return an asset
Processes
Register to depreciate to dispose
An asset can be created from a purchase invoice, bill, journal or reimbursement; depreciation runs post the period charge; disposal removes it and books the gain or loss.
Want the steps? See How To: Register a fixed asset, Run depreciation.