Add new fixed asset category

You will find some suggested fixed assets ledger categories but you can also add your own. It is important that the correct ledger account is entered for the category. The fixed assets category controls which ledger accounts that are used and needed to post depreciation, disposal and sales correctly. You can also choose to copy an existing fixed assets category and make your own adjustments to it.

1. Select Settings - Fixed assets ledger settings.
2. Select New fixed assets category.
3. Fill in all information.
4. Select Save.

Field explanations

Basic information

Active

To be able to use a fixed asset category, it must have the status Active and contain ledger accounts that are active.

Name

The name you specify should indicate what the fixed asset category is intended to be used for. This makes it easier to choose the right category when you add a new fixed asset.

Ledger accounts for fixed assets transactions

If any of the accounts are not shown in the chart of accounts, you can tick the Show inactive items box.

Assets account

Here, you enter the account the fixed asset belongs to.

Accumulated depreciation

Here, you enter the account to which reduction of the fixed asset's value should be posted.

Depreciation expenses

Here, you enter the account to which depreciation of the fixed asset should be posted.

Capital gains

Here, you enter the account to which any profit from the sale of the fixed asset should be posted.

Capital losses

Here, you enter the account to which any loss from the disposal of the fixed asset should be posted. Disposal could be either sale or discard of the fixed asset.

Related topics

	Fixed assets
	Add/delete a new fixed asset