Step 1: Click the magnifying glass icon in the top right corner and type “Fixed Assets" in the search bar and select the “Fixed Assets" option.
Step 2: Click "New" to initiate the process of adding a new fixed asset record.
Once you click on new, you will open a blank Fixed Asset Card. Enter the below information in its respective fields.
Provide the necessary asset details, ensuring accuracy and completeness:
- Asset Class: Select the relevant asset class that categorizes the asset appropriately (e.g., buildings, machinery, IT equipment).
- Asset Subclass: Choose the applicable subclass to further define the asset (e.g., heavy machinery, office furniture, company vehicles).
- Description: Provide a detailed and clear description of the asset, including specifications, model numbers, and other identifying information to facilitate easy tracking.
- Depreciation Book Code: Keep it as COMPANY
- Depreciation Start Date: Enter the date when the depreciation process will commence.
- Depreciation End Date: Enter the date when the depreciation process will end.
Once all information is filled in, the card will be saved automatically. Now you must acquire it. Follow the steps in the guide "How to Acquire a Fixed Asset”.
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