Track fixed assets and depreciation
Put equipment and vehicles on your asset register, let Billbook work out depreciation, and record a sale or write-off.
- Add
- Register
- Depreciate
- Dispose
A fixed asset is something you own and use for more than a year, like a laptop or a ute. Depreciation spreads its cost over the years you use it, so each year's profit carries its share.
How do I add an asset?
- Open AccountingBooksFixed assets and choose New asset.
- Fill in the Name, Purchase date and Cost (leave out GST you can claim back).
- Choose the Asset account.
- Pick a Method: Straight line, Diminishing value or No depreciation.
- Enter the effective life in years, or a yearly rate, and the two depreciation accounts.
- Choose Save draft, check it, then Register.
The purchase itself
Registering doesn't record buying the asset. Code the bill or bank payment to the asset account as usual.
How does depreciation get posted?
Choose Run depreciation and pick Up to the year ending. Billbook posts each finished financial year, skipping years already done. The first and last years count only the days you owned it. Each asset's page shows its Depreciation schedule.
What if I sell or scrap it?
- Open the asset and choose Dispose.
- Enter the Date and what it Sold for (0 if scrapped).
- Choose where the money went and where the Gain or loss goes to.
Depreciation is brought up to that date first. The asset then moves to Sold or disposed.
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