Fixed Assets


  1. Add a New Fixed Asset
  2. Registering a Fixed Asset
  3. Posting Depreciation

Add a New Fixed Asset

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Fixed Assets must first be added to your Inventory Listing before the quantity can be updated. 

To add a fixed asset to your Inventory Listing:

  1. On Inventory -> New -> Product/Service
  2. Choose type to be Fixed Asset and fill in the rest of the fields marked with a red asterisk. 
  3. Click Save

  4. You will now need to add a quantity of this new asset either through a purchase invoice or via a stock adjustment/stocktake before registering.

Add a New Fixed Asset Using a Purchase Invoice

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To add a new fixed asset using a Purchase Invoice:

  1. Navigate to  Purchase -> New -> Purchase
  2. Fill in all invoice details marked with a red asterisk. 
  3. Choose the newly created fixed asset under products then click Authorise  
  4. Fill in the Invoice as usual. See Processing a Purchase for more information. 

  5. Continue to stock received tab and click +Copy From Invoice and then Authorise once the asset has been physically received. This will now add the asset to your availability list so you can proceed to register the asset. 

Add a New Fixed Asset Using Stock Adjustment

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To add a new fixed asset using a Stock Adjustment:

  1. Go to Inventory -> New -> Stock Adjustment  
  2. In Zero stock on hand Product, click + or Add more items to add the new asset into Inventory and click Complete. 

Add a New Fixed Asset Using Stocktake/Inventory Count

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This option can be used if you find un-registered asset during inventory count.

To add a new fixed asset using a Stock Adjustment:

  1. Navigate to Inventory -> New -> Stocktake/count
  2. Select location where the asset was found
  3. Tick Include quantity on hand and scroll to the bottom of the page 
  4. In Zero stock on hand product, click + or Add more items to add the asset
  5. Proceed to add the relevant asset and click Complete to finish. 

Registering a Fixed Asset

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To register a Fixed Asset:

  1. Navigate to the Financials -> Fixed Assets 
  2. This screen displays a list of all your registered and unregistered assets. Use filter to find only unregistered assets 
  3. Select the asset/s you would like to register, then click the Register button. 

  4. A message will pop up asking you to confirm the registration, just click Yes to proceed to the next screen. The status of the selected asset has now been changed to Registered. 

  5. By clicking onto the asset you can bring up the details and make changes to the depreciation method if required. Here you can also view the YTD depreciation & attach copies of various documents regarding this asset. Here we may also choose to dispose of the asset by including the salvage value. 

Posting Depreciation

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To post depreciation for an asset:

  1. Navigate to Financials -> Depreciation  
  2. Here you will see all the YTD depreciation that has been posted for various assets. 
  3. To run depreciation for a new period, click Run Depreciation on the left hand side. 

  4. The Start Date will be from the last depreciation period. Select the End date. Only Assets registered for that period will be available to run depreciation.  
  5. Click Save

  6. You can now see the newly posted depreciation in this summary screen.