Fixed Asset Register

The Fixed Asset Register is the master list of everything the company owns for the long term: each Asset with its category, location, purchase date, gross cost, depreciation to date, current written down value and status. Nepali auditors need it for the fixed asset schedule in the annual accounts, and the IRD income tax return uses the same figures for the depreciation claim under its pooled asset classes. It is built from Asset records, so a laptop bought without an Asset record is missing here even though the cost sits in the ledger. The demo shows chairs and a table Rs 40,000 under Furniture and Fixtures and a Dell laptop Rs 1,00,000 under Office Equipment.

Net value = Gross purchase amount - Accumulated depreciation to date; Monthly straight line depreciation = (Cost - Salvage value) / Number of months of useful life

1. 01Go to Financial Reports > Fixed Asset Register, or open it from the Assets workspace.
2. 02Set Company, Status Submitted (or In Use) and Filter Based On Fiscal Year 2083-2084 or a Date.
3. 03Set Finance Book if you keep a separate tax book; otherwise tick Include Default Book Assets.
4. 04Choose Group By Asset Category or Location; optionally one Asset Category or Cost Center.
5. 05Read Gross Purchase Amount, Depreciated Amount and Asset Value per asset: Rs 40,000 and Rs 1,00,000 in the demo.
6. 06Compare the total Asset Value with the fixed asset accounts less Accumulated Depreciation in the Balance Sheet.
7. 07Export with Menu > Export for the audit schedule and the income tax return.

Open at year end for the fixed asset schedule in your audited accounts.

Office chairs and a table Rs 40,000 under Furniture and Fixtures, Dell laptop Rs 1,00,000 under Office Equipment.