3.0 How to create and manage fixed assets

  1. 1. Click on Accounting

    Click on Accounting

  2. 2. Click on Accounting

    Click on Accounting

  3. 3. Click on Assets

    Click on Assets

  4. 4. Click on New

    Click on New

  5. 5. Fill in Name

    Fill in Name

  6. 6. Select an Acquisition Date

    Select an Acquisition Date

  7. 7. Fill in the value of asset

    Fill in the value of asset

  8. 8. Fill in salvagable value

    Fill in salvagable value

  9. 9. Select a Fixed Asset Account

    Select a Fixed Asset Account

  10. 10. Select a Accumulated Depreciation account

    By default, will be set to the fixed asset account & be offset

    Select a Accumulated Depreciation account

  11. 11. Select a Depreciation Expense account

    Select a Depreciation Expense account

  12. 12. Fill in Depreciation method/Policy

    There is Straight line, Declining(Reducing Balance), Straight line then Declining(Mix of both)

    Fill in Depreciation method/Policy

  13. 13. Fill in duration of asset life/depreciation

    Depreciation can be calculated in Months or Years

    Fill in duration of asset life/depreciation

  14. 14. Select type of computation

    There is No prorata, Constant periods & Based on days per period

    Select type of computation

  15. 15. Click on Compute Depreciation

    Click on Compute Depreciation

  16. 16. Click on Depreciation Board

    Click on Depreciation Board

  17. 17. List of drafted depreciations entries

    List of drafted depreciations entries

  18. 18. Click on Asset

    Click on Asset

  19. 19. Click on Confirm

    Click on Confirm

  20. 20. Click on Depreciation Board

    Click on Depreciation Board

  21. 21. List of all depreciation entries will be listed here

    List of all depreciation entries will be listed here

Depreciation Schedule

  1. 22. Click on Reporting

    Click on Reporting

  2. 23. Click on Depreciation Schedule

    Click on Depreciation Schedule