Fixed Assets

Fixed Assets are long-term, tangible assets which are acquired and used by an organization to support its day-to-day operational activities. These assets are not intended for resale and are expected to provide economic benefits over a period longer than one year. Examples of Fixed Assets include buildings, machinery, vehicles, office equipment, and other items of significant value, typically valued over 500€. They play an essential role in business operations, are used continuously over their useful life and are therefore subject to depreciation, with the exception of land.

The Fixed Assets register enables comprehensive tracking and management of Fixed Assets throughout their entire lifecycle, from the moment they are acquired until they are fully depreciated, decommissioned, or disposed of. This includes, but is not limited to key processes such as acquisition, Depreciation Calculation, and deactivation. By maintaining accurate and up-to-date records at each stage, the register supports precise asset monitoring, ensures correct financial reporting, and facilitates compliance with internal controls, accounting standards, and audit requirements.

The register can be accessed from the menu Financials | Fixed Assets | Fixed assets.

Hint Examples of how to use the Fixed Assets register are described on the corresponding pages of the User Manual.