Asset Group

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Introduction

Assets can be grouped into different categories with the aim of helping their depreciation management and analysis.

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Asset Category

Asset category window allows to create and configure every asset category your organization may need.

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As shown in the image above, the creation of a asset category requires to enter below listed information for each category:

  • Name or short name which helps to easily find a category
  • Description
  • Depreciate indicates if the assets of this group will be depreciated.
  • Depreciation Type method used to depreciate the asset.
  • Calculate Type indicates how the depreciation will be calculated (Time or Percentage)
  • Annual Depreciation Annual percentage used to depreciate this asset.
  • Amortize it refers to the periods chosen between depreciation entries (monthly, yearly).
  • Usable Life - Months Years of the usable life of the asset
  • Usable Life - Years Months of the usable life of the asset

Depreciation configuration will be inherited from the asset category when creating a new asset.

Accounting

Each asset category allows to configure a different set of accounts to use to post asset depreciation.

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Full list of Asset Group window fields and their descriptions is available in the Asset Group Screen Reference.

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