FAQ / How to register fixed assets?

Long-term assets can be put into use only as an item from the warehouse, i.e., a long-term asset purchase document must be entered first. Only then can the item be put into use as a long-term asset.

Create a transaction type for entering the long-term asset
Reference book → Warehouse → Operation type Types
In the module, click the green "+" button to create a new entry. Create a "Purchase" transaction with the necessary settings and corresponding accounts. After filling in the fields, click the "Save" button. If such a transaction already exists, there is no need to create a new one.
2. Create an item card
Create a card, for example: “Car,” and select the item type with quantity tracking enabled.
Item attribute
3. In the field “Purchase cor.t account,” enter the intermediate offset account used for acquiring long-term assets. When recording the purchase, the program will take the debit offset account from the item card. After completing these settings, click “Save.”
4. Register the purchase of the long-term asset
Warehouse → Purchases and Expenses
In the module, create a new entry by clicking the “Add new entry” button. When registering the entry, select the warehouse and the “Purchase” transaction type, and choose a supplier or create a new one.
In the “Purchase item” table, in the “Item” field, select the created item, i.e., the car, and specify the purchase amount, which is the price paid for the long-term asset. After entering the data, press the “Enter” key to confirm the entry. After registering the document, click the “Save” button.
5.Create long-term asset groups
Assets → Long-term Assets → Reference book → IT Groups
The groups will be used as a reference book. Once created, you will be able to put the item into use, calculate depreciation, and perform inventory.
6.Entering a long-term asset

Assets → Long-term Assets → Long-term Assets
Click the “Add new entry” button and enter the long-term asset details. In the opened table, fill in the following fields:

• LTA Group – when selected, the offset accounts will be filled in automatically;
• Inventory Number;
• Select the depreciation calculation method. Four options are available: Straight-line, Double declining balance, Units of production, Sum-of-the-years-digits;
• If the asset is depreciable, check the box;
• Inventory – select the long-term asset from stock balances;
• Specify the "Putting into exploitation date" (Note: this date cannot be earlier than the acquisition date);
• Putting into exploitation act– click the “+” button to create the act, i.e., transfer the item from the warehouse to long-term assets;
• Indicate the initial value.

After filling in the fields, click the “Save” button. The long-term asset is now registered.