# Assets

The Assets module holds the masters for capital assets — fixed asset accounts, asset items, and asset groups — used to capitalise purchases of long-term assets. Find them under Accounts → Assets.

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Components

| **Screen** | **Description** | |------------|-----------------| | Fixed Asset Accounts | Ledger accounts for long-term assets (machinery, vehicles, equipment). | | Asset Items | Purchasable product masters for capital assets, each linked to a fixed asset account. | | Asset Groups | Categories used to classify fixed asset accounts. | Assets represent items of value owned by the company that provide economic benefit over multiple periods. You define an asset item, buy it on a purchase invoice to capitalise its cost to a fixed asset account, and settle payment with a payment voucher (transaction type Fixed Asset). The asset's book value is the balance on its fixed asset account.

Note: the current system does not run automatic depreciation or maintain a disposal/write-off workflow. Depreciation and disposals, if required, are recorded through manual Journal Entries.

FAQ

What are asset screens used for?
Maintain fixed asset accounts, asset groups, and asset items so capital purchases capitalise to the right ledger accounts.

How do assets connect to payment vouchers?
Payment Voucher transaction type Fixed Asset settles asset-related purchase invoices.

Where are asset GL accounts defined?
Fixed Asset Accounts under Accounts → Assets.

Does the system depreciate assets automatically?
No. Capitalisation posts when the asset purchase invoice is approved. There is no automatic depreciation run — record depreciation through manual journal entries and verify with Account Transactions.

Is this the same as inventory fixed assets?
Inventory tracks stock items. Fixed asset accounts track long-term capital assets in the ledger.