DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Fixed assets - tracking


#1

If I’m going to the trouble of recording purchase invoices relating to fixed assets (I’m buying tools), it would be a nice and useful feature to track those fixed assets, perhaps in a similar way to the current inventory tracking - especially as there is some overlap (I’m offering tools for sale as well). It would stop me having to keep a separate fixed asset register where I’m duplicating product codes and descriptions in a spreadsheet.


#2

The module for tracking fixed assets (and depreciation) is actually coming before the end of this month.


#3

This is excellent news. Thank-you for responding so quickly.


#4

I now see fixed assets in version 14.2.18 but I want to work out if I’m thinking about the process in the best way.

To track my purchase of e.g. workshop tools, I must create a Purchase Invoice, which itemises the tools I am buying.

If I assign such purhcases to a “Workshop tools” expense account, this gives me a true picture until the tools are delivered.

Where I take possession of the tools, I then add each of them into the ‘Fixed Asset’ register, assigning an ‘opening balance’ to each. Doing this rebalances the Equity correctly.

I realise this is a very new feature. I hope it will be more complete as development progresses, as it currently requires data re-entry, cannot easily handle multiple quantities of a same item, doesn’t have a separate ‘asset tag reference’ field (we don’t all use asset tags, but many do, especially for computer equipment) and doesn’t link directly from purchase invoices.

Thank-you for the feature. It is useful.


#5

Hi @lubos LOVE the software and even wrote a post on my website telling my clients about you :slight_smile: and a link back to here.

QUESTION: Any update on this as we are nearing the end of month and have some assets to do an Expense Claim on and register in the business… ?


#6

It looks like I will be complete with Fixed Assets & Depreciation module tomorrow.


#7

@lubos Thank you for adding this module and for your reply. Its appreciated !!

I have never seen software developed this way, adding new features so rapidly which actually improve it rather than just be feature bloat. Love it :smile: