# Asset Items

Asset Items are purchasable product masters for fixed assets — the items you select on purchase orders and invoices when acquiring capital assets. Access from Accounts → Assets → Asset Items.

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Overview How It Works Actions FAQ Related

Overview

Create asset items for the capital assets you buy — vehicles, machinery, laptops, furniture, and similar. Each asset item is a product master linked to a Fixed Asset Account, so purchasing the item capitalises its cost to that account. Use the list to open, edit, suspend, activate, or print asset items.

How It Works

Purchasable fixed-asset master

An Asset Item is a product record (item type Fixed Asset) that appears when you buy capital assets. On create you set the item name, code, unit, and link it to a Fixed Asset Account — the ledger the asset's value posts to. You can also set HSN, price, brand, tax class, and whether the item is purchasable and/or saleable.

Capitalisation flow

Add the asset item to a Purchase Order or Purchase Invoice. Approving the purchase invoice posts the asset cost to the linked fixed asset account, and payment is settled with a Payment Voucher. The asset's book value is then the balance on its fixed asset account.

Note: the current system does not run automatic depreciation or maintain a per-asset depreciation schedule. Depreciation, if required, is recorded through manual Journal Entries against the relevant accounts.

Fields

| **Field** | **Description** | |-----------|-----------------| | Name * | Asset item name. Required and unique. | | Item Code * | Unique item code. Required. | | Unit * | Unit of measure. | | HSN Code | Tax classification code. | | Description | Optional notes. | | Price | Purchase/cost price. | | Fixed Asset Account * | The Fixed Asset Account the item capitalises to. | | Brand | Optional brand. | | Purchasable / Saleable | Whether the item can be purchased and/or sold. | | Tax Class | Tax Class driving applicable taxes. |

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

Actions

| **Action** | **Description** | |------------|-----------------| | New | Create a new asset item | | edit | Edit an existing item | | view | View item details | | Suspend / Activate | Change the item status (from the view screen) | | delete | Delete the item (from the view screen) | | Print | Print item details (from the view screen) |

FAQ

What is an asset item?
A purchasable product master for a capital asset, linked to a fixed asset account so purchases capitalise to that account.

How is an asset purchased?
Add the asset item to a purchase invoice (or purchase order → invoice), approve it to capitalise the cost, and settle with a payment voucher.

Does the system depreciate asset items automatically?
No. There is no automatic depreciation run or per-asset schedule. Record depreciation through manual journal entries if needed.

Can I assign an asset item to an Asset Group?
Not currently — the asset-group link is not available on the asset item form. Group classification applies to Fixed Asset Accounts.

Is inventory the same as asset items?
No. Inventory is stock for sale/consumption. Asset items are capital assets that post to fixed asset accounts.

Where is asset value on books?
Fixed asset account balance on Trial Balance and Balance Sheet.