Pre-requisite: You can only view this page if you have Administrator role or Regular User role with Adviser status

Fixed Asset Setup

  1. Find button Asset Type and click it
  2. Enter information on the asset type at the following fields
    • Asset Type - name of your Fixed Asset
    • Asset Account - account for this Fixed Asset
    • Accumulated Depreciation Account - account to accumulate depreciation
    • Depreciation Expense Account - contra account to asset account of that Fixed Asset
  3. Enter information on the Depreciation details
    • Depreciation method - Straight Line or Declining Balance method
    • Averaging method - Full Month or Actual days
    • Rate - by percentage
    • Effective Life (years) - by actual year
  4. You need to decide whether to use Rate or Effective Life to count for the depreciation period.
  5. Click Save to finalise the asset type setup