Fixed assets (equipment, vehicles, machinery) live in Inventory → Assets. The system keeps a full register and does all the accounting as you record real-world events.
How it works
- Record the purchase. Enter a unique tag, the net cost, and any recoverable input VAT separately (it posts to Input VAT Recoverable, not into the asset). Pick the branch, business unit, and the account you paid from. This capitalizes it — no expense yet.
- Set depreciation. Choose straight-line or declining balance, useful life (months) and salvage value, then run Run Depreciation each month. It books Depreciation Expense automatically.
- Print the tag. Use Print tag to get a barcode label; stick it on the item so anyone can scan it to see that asset's history.
- Log repairs & maintenance. Record each service with its cost. The register shows each asset's age, lifetime repair cost and a Retire? flag when it's past its useful life or repairs exceed half its value.
- Dispose. To scrap, donate or sell it, use Dispose. For a sale, enter the proceeds and choose the account the money lands in — the asset, its depreciation, and any gain/loss are all posted for you.
Example: a $6,000 machine with a 5-year life depreciates $100/month. After 2 years its book value is $3,600; sell it for $4,000 and the system books a $400 gain and adds $4,000 to your chosen bank account.
Tip: repairs are OPEX — record them as expenses (optionally tagged to the asset), not as new assets. Only buying or upgrading the asset itself is CAPEX.
