Fixed Assets

The Fixed Assets module includes three main registers that are used to record and manage different types of assets:

• Fixed Assets: Used for long-term, high-value assets such as buildings, machinery, and vehicles.
• Small Tools: Designed for lower-value, short-life assets like hand tools, office equipment, or IT accessories that are still tracked individually.
• Register - Fixed Assets in Acquisition: Used to record assets that have been purchased but are not yet in active use or fully capitalized. These are considered assets in the acquisition phase and are monitored until they are transferred to the appropriate register upon activation.

All three registers serve as the central source of information for tracking the condition, value, and location of each asset. Ensuring that all asset details are correct, complete and regularly updated is essential for maintaining consistency across all related processes. Inaccurate or outdated information can lead to errors in financial reporting, incorrect depreciation values, and discrepancies during inventory checks. It is important to review and maintain the asset data regularly, especially when assets are moved, disposed of, revalued, or newly acquired.

In addition to asset registration, the module provides functionalities for:

• Depreciation Calculation: It is used to calculate periodic depreciation based on the asset’s useful life, depreciation method, and other parameters defined in the registers. This process is essential for accurate accounting and financial reporting.
• Inventory Count: Allows for physical inventory checks of Fixed Assets and Small Tools. This function compares registered asset data with physical counts to identify discrepancies such as unchanged, missing, moved, or newly discovered items.

Both Depreciation Calculation and Inventory Count rely directly on the data entered in the asset registers.

Fixed Assets can be accessed by selecting Financials | Fixed assets

Hint Before using the Fixed Assets module for the first time, it is recommended to configure all relevant settings. A proper initial setup is essential, as it lays the foundation for the accurate management of Fixed Assets throughout their lifecycle. By correctly defining all parameters, you ensure that entries, postings, and depreciation calculations are accurate and compliant with accounting standards.   To ensure optimal functionality of the module, refer to the following guides and complete the necessary configurations: Configure basic Settings in the administration panel. Enable depreciation calculation using the Fixed Assets guide. Configure posting accounts and other financial details in the Receiving Document Types and Fixed Asset Purchase. Define appropriate Depreciation Categories to ensure accurate depreciation calculation. Set up the Fixed Asset Statuses to reflect the asset lifecycle stages. Configure the Functional States of Fixed Assets to describe the operational condition of the assets. Create Fixed Asset Groups to organize assets into logical groups for easier tracking and reporting. Define Fixed Asset Locations to monitor where each asset is assigned or used.