Fixed Assets

Manage your asset register and track depreciation over time.

The Fixed Assets page is your asset register — a record of all the long-term assets your business owns, along with their purchase cost, accumulated depreciation, and current net book value.

Fixed Assets

Overview

The page shows:

Summary cards — Total cost, accumulated depreciation, and net book value across all assets
Asset table — A list of every registered asset with its details

Summary cards

Three cards at the top give you a snapshot:

Card	Description
Total Cost	The combined original purchase cost of all assets
Accumulated Depreciation	The total depreciation charged to date
Net Book Value	Total cost minus accumulated depreciation — what your assets are worth on the books. Shown in green.

Asset table

Each asset is shown as a row with:

Column	Description
Asset #	A unique identifier for the asset
Name	The asset name (e.g. "Office Laptop", "Delivery Van")
Category	The type of asset, shown as a badge. Categories include Equipment, Furniture, Vehicles, Buildings, IT Hardware, and Software.
Purchase Date	When the asset was acquired
Cost	The original purchase cost
Depreciation	The total depreciation charged so far
NBV	Net Book Value — cost minus depreciation
Method	The depreciation method: Straight Line or Reducing Balance

Adding an asset

Click New Asset

Click the New Asset button at the top of the page.

Enter the asset details

Fill in:

Asset Number — A unique reference for the asset
Name — A descriptive name
Category — Select from Equipment, Furniture, Vehicles, Buildings, IT Hardware, or Software
Purchase Date — When the asset was bought

Enter the financial details

Cost — The purchase price, in pence
Residual Value — The estimated value at the end of the asset's useful life, in pence (often zero)
Useful Life — How many months you expect to use the asset before it is fully depreciated

Choose the depreciation method

Select one of two methods:

Straight Line — The same amount is depreciated each period. Calculated as (Cost − Residual Value) ÷ Useful Life.
Reducing Balance — A fixed percentage of the remaining value is depreciated each period. This charges more depreciation in early years and less in later years.

Create

Click Create to add the asset to your register.

Running depreciation

Click the Run Depreciation button to calculate and post depreciation journal entries for all eligible assets. The system:

Calculates the depreciation amount for each asset based on its method, cost, residual value, and useful life
Creates journal entries debiting the depreciation expense account and crediting the accumulated depreciation account
Updates each asset's accumulated depreciation and net book value
Returns a count of how many assets were depreciated

Depreciation frequency

How often depreciation runs depends on the setting in Accounting → Settings — you can choose Monthly, Quarterly, or Annually. If automatic depreciation is enabled, this runs on schedule without you needing to click the button.

Depreciation methods explained

Straight line

The simplest and most common method. The same amount is charged every period throughout the asset's useful life.

Example: An asset costing £12,000 with a residual value of £0 and a useful life of 48 months would be depreciated at £250 per month.

Reducing balance

A fixed percentage of the remaining book value is charged each period. This means larger charges in early periods and smaller charges later.

Example: An asset costing £10,000 depreciated at 25% per year would be charged £2,500 in Year 1, £1,875 in Year 2 (25% of £7,500), £1,406 in Year 3, and so on.

Tips

Register assets when they are purchased so depreciation starts from the correct date
Choose the depreciation method that best reflects how the asset loses value — straight line for assets that wear evenly, reducing balance for assets that lose value faster in early years (like vehicles or IT equipment)
Review your asset register periodically and remove or write off assets that have been disposed of
The net book value on your Balance Sheet should match the total NBV shown on this page