# Asset Groups

Asset Groups classify fixed asset accounts into categories for organised reporting. Access from Accounts → Assets → Asset Groups.

On this page

Overview How It Works Actions FAQ Related

Overview

Define groups such as Vehicles, Furniture, or Machinery. Assign Fixed Asset Accounts to groups for organised reporting. Groups can be nested under a parent group to build a hierarchy.

How It Works

Grouping fixed asset accounts for reporting

Asset Groups classify fixed asset accounts into categories — for example Vehicles, Furniture, Machinery, or IT Equipment. Each Fixed Asset Account can be assigned to a group so related assets roll up together on the balance sheet and in asset registers. A group may have a parent group for a multi-level structure.

Note: asset groups are used for classification and reporting only. The system does not apply depreciation methods or useful-life rules by group (there is no automatic depreciation). Asset items are not assigned to groups on the current asset item form.

Connected reports: Balance Sheet (fixed asset section), Trial Balance, Account Transactions.

Actions

| **Action** | **Description** | |------------|-----------------| | New | Create a new asset group | | edit | Edit an existing group | | view | View group details | | delete | Delete a group |

FAQ

What is an asset group?
A classification for fixed asset accounts (e.g. vehicles, furniture) used for organised reporting.

How do groups link to accounts?
Each Fixed Asset Account can reference a group; GL posting still happens on the individual account.

Can I nest groups?
Yes. A group can have a parent group to build a multi-level hierarchy.

Do groups affect depreciation?
No. Groups are for classification only — the system does not run automatic depreciation or apply group-based depreciation rules.

Where do I see asset totals?
Balance Sheet asset sections and account transactions.