Asset categories

The kinds of asset and how each depreciates: the method (straight line or declining balance), the life in months, the yearly rate for declining balance and the salvage share of the cost. Each category gets its own asset, accumulated depreciation and expense accounts in the ledger, named after it. Presets cover computers, furniture, vehicles, machinery and buildings. Part of the Fixed assets add-on.

Steps

  1. Open Fixed assets → Categories: each row shows the method, the life, the rate, the salvage share and how many assets use it.
  2. Press New category and pick a preset, or set the name, the method, the life in months, the yearly rate (declining balance) and the salvage percentage. The accounts the category will post to are listed under the form.
  3. Renaming a category renames it on its assets. An inactive category is kept out of the picker but its assets go on depreciating; a category with assets cannot be deleted.

Tips

  • Changing a category's method, life or rate changes nothing on the assets already carrying their own settings, and applies to the others from the next run.

In the app, press F1 or ? on this screen to open this guide next to your work.

This guide belongs to the Fixed assets module. Learn more

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