Asset category: Furniture and Fixtures
Desks, chairs, shelving and fittings, depreciated straight line.
In detail
Furniture and Fixtures holds desks, chairs, shelving, counters and fitted items, depreciated straight line over a medium life. In the demo the Rs 40,000 of office chairs and a table bought on ACC-PINV-2026-00004 became ACC-ASS-2026-00001 under this category, posting cost to Furniture and Fixtures - YFF. Its monthly depreciation is part of the Rs 1,235.54 Depreciation Entry ACC-JV-2026-00091 that also covers the laptop. Small furniture that is cheap and short lived can be expensed under a capitalisation threshold you set in policy; everything above it comes here. Mixing furniture into Office Equipment distorts both categories' schedules.
Formula
Monthly depreciation = (Cost - Salvage value) / Useful life in months; Rs 40,000 over 120 months = Rs 333.33
Accounting entry
| Account | Debit | Credit |
|---|---|---|
| Furniture and Fixtures - YFF | Rs 40,000 | |
| Creditors - YFF (Market mind investment group) | Rs 40,000 |
How to record it in BRAccount
- 01Go to Assets > Asset Category and open Furniture and Fixtures; check accounts and useful life.
- 02Go to Buying > Purchase Invoice > New and add the furniture item marked Is Fixed Asset.
- 03Submit. The entry below posts and a draft Asset is created.
- 04Open the Asset, set location and available for use date, and submit.
- 05Its depreciation posts monthly with the other assets, as in ACC-JV-2026-00091.
When to use it
Pick it on furniture bills marked Is Fixed Asset.
Example from the demo books
ACC-ASS-2026-00001, office chairs and a table, Rs 40,000.