Fixed assets

Open Fixed Assets

Overview

A fixed asset is a capitalised purchase with a useful life longer than one accounting period — vehicles, equipment, buildings, improvements. Rather than expensing the full cost at purchase, the cost is recorded as an asset and expensed over time through depreciation.

The Fixed Assets register drives:

• Capitalisation — the asset sits on the balance sheet at book value (original cost − accumulated depreciation).
• Depreciation — record depreciation per asset on demand, run it in a batch for all active assets, or let the monthly cron post it automatically (per-client, opt-in).
• Disposal — gain/loss on sale is computed against book value and posted as a disposal JE.

Register layout

Header: A Run Depreciation button (batch depreciation for all active assets) and an Add Asset button.

Summary cards: Total Assets (with active count), Total Cost, Total Depreciation, and Book Value.

Filters: Search, a status filter (All Status / Active / Fully Depreciated / Disposed), and a category filter (populated from the categories already in use).

Table: Asset (name + asset number), Category, Purchase Date, Cost, Depreciation, Book Value, Status, and a row-actions menu.

Fields

The Add / Edit Asset form is grouped into four sections.

Field	Notes
Name	Free-text label (e.g. “2022 Ford Transit”, “HVAC upgrade — 100 Main St”). Required.
Description	Optional free text.
Category	Free text with autocomplete against existing categories (e.g. “Equipment”, “Furniture”). Not a fixed list.
Location	Optional.
Serial Number	Optional.
Purchase Date	When the asset was acquired. Required.
Purchase Price	Total capitalised cost. Required.
Vendor	Optional — picked from the client’s vendors.
Fixed Asset Account	Balance-sheet account the cost sits in. Required.
Accumulated Depreciation Account	Contra-asset account. Required.
Depreciation Expense Account	Expense account the depreciation JE posts to. Required.
Depreciation method	Straight Line, Declining Balance, or CCA (Canadian). Defaults to Straight Line.
CCA class / CCA rate	Shown only when the method is CCA. Selecting a class pre-fills the declining-balance rate; the rate is editable.
Useful Life (months)	Shown for Straight Line / Declining Balance. Defaults to 60 months (5 years).
Salvage value	Optional residual value.
Start Depreciation Date	Optional — defaults to the purchase date if left blank.

UI elements

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Add Asset

Opens the Add Fixed Asset form.

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Run Depreciation

Opens the batch depreciation panel. Enter a Depreciation Date (typically the last day of the month) and run it to calculate and post depreciation for every active asset. Idempotent — assets already depreciated for that month are skipped. The result panel reports how many were processed vs. skipped.

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Record Depreciation

Row action for active assets. Opens a panel showing the asset’s current book value, total depreciation, method, and salvage value. Pick a Date; by default the amount is calculated from the asset’s settings, or tick Enter manual amount to override it.

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Dispose Asset

Row action for active assets. Opens the disposal form.

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Delete

Row action available only for active assets that have no depreciation recorded yet. Once depreciation has been posted, dispose the asset instead of deleting it.

Monthly depreciation

A monthly cron runs on the 1st of each month. It is gated per client by the autoDepreciation feature flag, so it is a no-op until a client opts in. For each active asset it posts, through the same path as the manual Record Depreciation action:

Dr Depreciation expense
Cr Accumulated depreciation

It is idempotent — an asset already depreciated for the target month is skipped, and the whole client is skipped if the target date falls on or before the client’s lock date, so closed-period totals are never disturbed. Real-estate assets have their linked property looked up by the depreciation service and the propertyId stamped onto the JE lines, which is what makes their depreciation flow onto the Property P&L.

Actions

Add an asset

1. Click Add Asset.
2. Enter Name and (optionally) description, category, location, and serial number.
3. Enter the Purchase Date, Purchase Price, and (optionally) the Vendor.
4. Pick the Fixed Asset, Accumulated Depreciation, and Depreciation Expense accounts.
5. Choose a Method. For CCA, pick the CCA Class (which pre-fills the rate); for Straight Line / Declining Balance, set the Useful Life in months. Add a Salvage Value and Start Depreciation Date if applicable.
6. Click Add Asset. Depreciation begins from the start date (or purchase date) on the next run.

Dispose an asset

1. Click Dispose Asset on the asset’s row.
2. Enter the Disposal Date, Disposal Method (sold / scrapped / traded in / donated), the Sale/Trade Price, and optional notes.
3. Click Dispose. Gain/loss is computed as proceeds − book value, a disposal JE is posted, and the asset’s status flips to Disposed.

Related

• Chart of accounts
• Journal Entries — depreciation and disposal post through the general ledger
• Properties — real-estate assets route depreciation onto the Property P&L
• Reports