Fixed Assets & Loans
Last update:
07/21/2026
Completed
In this topic
Fixed Assets Overview
- Introduction to Fixed Assets
- Setting Up Asset Profiles
- Creating an Asset & Posting Depreciation
- Running Depreciation for All Assets at Once
- Asset Register & Reporting
- Managing Loan Amortization Schedules
Asset Profiles & Depreciation Methods
Creating & Running Assets
Batch Depreciation
Reporting & Analysis
Loans
Introduction to Fixed Assets
What Fixed Asset Management Does
When you buy something that will be used over several years (equipment, vehicles, computers, furniture) rather than consumed immediately, accounting rules require you to spread its cost over its useful life rather than expensing it all at once — this is depreciation. The Fixed Assets module automates that: it creates the asset record, calculates the depreciation schedule, and posts the monthly/yearly journal entries for you.
Core Concepts
| Concept | Description |
|---|---|
| Asset Profile | A reusable template (e.g. "Computers – 3 years straight-line") defining the default accounts and depreciation method for a category of assets. |
| Asset | One physical item being depreciated: purchase value, salvage value, start date, and its own depreciation schedule. |
| Depreciation Line | One scheduled entry in the asset's depreciation plan (e.g. "Month 14: $250"). |
| Depreciation Base | The amount actually being spread over time — usually Purchase Value minus Salvage Value. |
| Salvage Value | The estimated value the asset will still have at the end of its useful life (e.g. resale/scrap value) — not depreciated away. |
Asset Statuses
- Draft – created but not yet confirmed; no accounting impact yet.
- Running – confirmed; depreciation lines can now be posted to accounting.
- Close – fully depreciated (last depreciation line posted).
- Removed – disposed of or sold; removal entries generated.
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This documentation is updated continuously. Some features described here may be renamed, deprecated, or still being finalized.