Fixed Assets Register

The Fixed Assets Register page allows you to manage and track fixed assets within an organization. It provides a centralized location for recording information about assets, such as their asset name, acquisition date, useful life, depreciation, accumulated depreciation, net book value and liquidation.

Access Fixed Assets Register

  1. Log into the application using your credentials.

  2. From the dashboard, navigate to Accounts in the side menu.

  3. Select Fixed Asset Register from the dropdown list.

Create A New Fixed Asset Register

  1. Click the Add button.

  2. Fill in all the required fields for the Fixed Asset Register. Note: The toggle button for Already Existing and Not Existing is to be selected. If the toggle button is set to "Already Existing" it means the system will not re-attempt to post the original entry of the asset aquisition because its assumed to have been posted into the books at the initial point of acquiring the asset. Where toggle is set to Already Existing, it is very important that the data inputer key-in the accurate useful life of the asset as well as the accurate accumulated depreciation value to date. If the toggle button is set to "Not Existing" it means the original entry posting has not been posted into the books before, hence the system will post the original entry accounting between the Asset class account and the Payment source account. Note: The Fixed Asset Disposal GL is required incase of future asset disposal or liquidation. This ledger will be used to determine if an asset is disposed at profit or at loss. The asset's Book Value and Accumulated Depreciation will be closed into the Fixed Asset Disposal GL.

  3. Click the Save button to save changes.

  4. Click the "Yes, I want to proceed" button to reconfirm action.

Modify A Fixed Asset Register

To modify a Fixed Asset Register:

  1. In the Actions column, click the three vertical dots (⋮).

  2. Select Modify from the dropdown menu.

  3. Make the necessary updates.

  4. Click Update to save.

  5. Click the "Yes, I want to proceed" button to reconfirm action.

Deactivate/Activate Fixed Asset Register

To deactivate/activate a Fixed Asset Register:

  1. In the Actions column, click the three vertical dots (⋮)

  2. Select the Deactivate option.

  3. Click the "Yes, I want to proceed" button to reconfirm action.

PreviousOverdraft FeeNextGeneral Ledgers

Last updated