Creating Fixed Assets

The main feature of the Fixed Assets module is that when adding asset units, you can immediately set their depreciation parameters.

There are several ways to add assets to the system.

Via the Finance Module Menu

Open the Finance module menu and click the Add button next to the Fixed Assets subsection.

Within the Module

Inside the Fixed Assets module, click the Create button in the list on the main screen.

Creating an Asset

Regardless of the method chosen, an asset creation form will appear. Fill in the following fields:

• Name;
• Type — Fixed Assets or Intangible Assets;
• Assignee;
• Asset cost — including VAT;
• Depreciable amount — the value of the asset excluding VAT. It is calculated automatically, but you can change the value if needed;
• Depreciation period — specify the number of months;
• Purchase date;
• Start month;
• Organization/Account;
• Vendor — specify the seller of the asset;
• Description.

If the asset was purchased earlier, check the corresponding box — in this case, the accounts payable will not be taken into account.

After saving, the asset will appear in the list.

Linking with a Payment

Now that the asset is added, you need to record the fact of its payment. To do this, add an Expense for the purchase of this asset to the system.

If the expense record does not exist, create it in the Money section.

When creating the expense, do the following:

• Specify the same Account that you selected when creating the asset;
• In the Category settings section, click the Fixed Assets button;

• In the selector, choose the added asset unit;
• Specify the amount;
• If necessary, specify other payment details.

Save the expense. Please note that only the expense for the acquisition of the asset with the Cash Flow type will be recorded automatically.

Added expenses can be found in the asset card under the Payments tab in the Cash Flow subsection.

In the P&L subsection, you will find the recorded expenses for the asset's depreciation.

The remaining debt for the asset acquisition can also be tracked within its card.