Fixed Assets

4 screens.

Asset Classes

Fixed Assets → Asset Classes

Set these up first. Every asset belongs to a class, and the class carries the default life, the residual percentage and the accounts depreciation and disposal post to.

What you see

The list of classes, each marked mapped or not mapped — cannot post, and a form to add or edit one.

A class marked right-of-use is the one leases capitalise into, and it is not offered for an ordinary purchase.

Fields

Field	What goes in it
Code, Name	Required.
Default life (years), Residual %	Applied to assets in this class unless overridden.
Depreciation, accumulated and disposal accounts	What the charge and the disposal post to.

Buttons

Button	When you can use it	What it does
Save class	Always.	Creates or updates the class.
Edit	On any class.	Loads it into the form.
Clear	Always.	Resets the form to a new blank class.

Rules this screen enforces

• An asset in a class with no accounts mapped can be created, and can then never be depreciated. The depreciation run refuses rather than posting a half-formed entry. Map the accounts before adding assets to a class.

Asset Register and disposal

Fixed Assets → Asset Register

Every asset with its cost, accumulated depreciation and net book value; and where an asset is disposed of.

What you see

The register, then a form to add an asset. Clicking an asset opens its detail, including its depreciation schedule and — while it is still active — the Dispose panel.

Fields

Field	What goes in it
Description, Class, Cost	All three required.
In service	Defaults to today.
Life (years)	Leave blank to use the class default.
Opening accumulated, Opening as at	For something bought part-way through its life elsewhere.
Disposal date, Proceeds	On the Dispose panel.

Buttons

Button	When you can use it	What it does
Add an asset	Always. Reads Close once open.	Opens the form.
Create	Once description, class and cost are filled in.	Creates the asset and writes its whole depreciation schedule.
Open	On any asset.	Opens its detail.
Preview	On the Dispose panel.	Shows cost, accumulated depreciation, net book value, proceeds and the resulting gain or loss. Nothing is written.
Post disposal	Only after you have previewed.	Asks first, reading back the gain or loss, then writes the disposal journal.
Close	On the detail panel.	Dismisses it.

Rules this screen enforces

• The whole depreciation schedule — every year to the end of the asset's life — is worked out and stored when you create it. That is why the forecast report is instant, and why what will be charged is auditable in advance rather than recomputed differently later.
• Changing the life later regenerates only the years that have not yet been charged.

Run Depreciation

Fixed Assets → Run Depreciation

The annual charge. Preview it, read it, then post it.

What you see

A fiscal year and an optional subsidiary, then the charge class by class once you have previewed.

A note underneath explains the cadence is annual, and that a year already posted returns nothing rather than posting twice.

Fields

Field	What goes in it
Fiscal year	Which year to charge.
Subsidiary	Optional; all by default.

Buttons

Button	When you can use it	What it does
Preview	Always.	Calculates and shows the charge. Nothing is written.
Post the charge	Only after you have previewed.	Asks first, naming the year and the total, then writes the journal.

Rules this screen enforces

• Preview and post calculate exactly the same figures; the only difference is whether the entry is written.
• Re-running a year that has already posted is safe — it returns nothing.

Leases & Schedules

Fixed Assets → Leases & Schedules

Capitalising a lease: the right-of-use asset and the liability, and the schedule of payments behind them.

What you see

The list of leases, each with a Schedule button, and a form to add one.

If no asset class is flagged right-of-use, the screen says so and tells you to create one on the Classes tab first — a lease cannot be capitalised without one.

Fields

Field	What goes in it
Description, Payment, Term (months), Frequency	The lease itself.
Advance or arrears	When in the period the payment falls.
RoU asset class	The right-of-use class to capitalise into.

Buttons

Button	When you can use it	What it does
New lease	Always. Reads Close once open.	Opens the form.
Price it	Always.	Shows the schedule and the liability without creating anything.
Preview recognition	Always.	Shows what would be recognised. Nothing is written.
Recognise	Always.	Asks first, naming the lease and its term, then creates the lease, the asset and the liability, and posts the recognition.
Schedule	On any lease.	Shows the full payment schedule with interest and principal split out, and marks which periods have been charged.
Close	On the schedule panel.	Dismisses it.

Rules this screen enforces

• Every lease is capitalised. No short-term or low-value exemption is applied — those are elective and need a policy nobody has set. Capitalising everything is the conservative default and produces a complete register.
• The right-of-use asset it creates then depreciates through the ordinary asset engine.