Fixed Assets Registration Process

Fixed Assets Registration Process

Fixed assets are recorded upon purchase as a supplier invoice.

1. From the Accounts Menu

Navigate to:
Accounts > Purchases > New Bill

2. Fill in the Supplier Invoice Details

• In the “From” field, write the supplier’s name from whom the asset was purchased.
• Select the purchase date, due date, and planned payment date.

In the description field, enter:

• The name of the purchased asset
• Its quantity
• Unit price
• Assign it to the correct account from the chart of accounts.

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Asset Depreciation

Depreciation for fixed assets is handled through journal entries by recording the depreciation transactions accordingly.