Step-by-step instructions for adding a registered asset to the system using two different methods.
Method One: Opening Balances for Fixed Assets
- Go to Manual Journal Entries:
- From the Accounting dropdown menu, select Manual Journal Entries.
- Add Opening Balances:
- Click on Opening Balances +.
- Select Fixed Assets.
- Fill in the Data:
- Date: The date of the last day of the fiscal year or the date of the last depreciation.
- Description.
- Opening Balance Account: Select the Opening Balances account.
- Last Depreciation Date: Enter the date of the last depreciation transaction.
- Asset Data:
- Select the asset name from the list.
- Enter the quantity and cost of the asset.
- Add the salvage value for depreciable assets.
- Accumulated depreciation up to the last depreciation date.
- The book value is calculated automatically.
After saving, the opening entry will appear and you can assign it to a specific project if you wish.
You can import opening balances through an Excel template
Click on Import Opening Balances from the top options to load and upload the Excel template.
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Method Two: Purchasing Fixed Assets
- Go to Purchase Invoice:
- From the Purchases dropdown menu, select Purchase Invoice.
- Fill in Purchase Details:
- Select the asset and enter the purchase details.
- Select the project associated with the asset and save the transaction.
Additional Notes:
- Options After Adding a Registered Asset:
- View, Edit, Complete (for purchased assets), Add New Expense (to link a specific expense to the asset)
- Additional Details for the Registered Asset:
- By clicking View next to the registered asset name, then navigating to Additional Information and clicking Edit at the top, you can modify the name of the responsible employee, asset barcode, cost centers.
- Value Adjustment Page:
- Displays all transactions related to the asset such as depreciation and book value.
