Fixed assets
A fixed asset register with depreciation that posts to your ledger
Finance Hero, the accounting app of Office Hero, keeps the vehicles, machines and computers your company owns in one register, works out each asset's depreciation month by month and posts it when you run the period. When you sell or scrap an asset, the gain or loss is booked for you.
Fixed assets are part of the Finance Hero Professional package.
01How it works
From purchase to disposal
Asset register
One register for your fixed assets
Register each asset with its category, name, purchase date, cost, salvage value, useful life in months and depreciation method. The register lists every asset with its name, method, cost, purchase date and state, active or disposed.
- The salvage value fills in from the category's default percentage, and you can change it
- Enter the cost and salvage value in your functional currency: depreciation and disposals post in it
- A column chooser and CSV export of the rows you select
Categories
Categories that carry the posting accounts
Group assets into categories such as vehicles, machinery or IT equipment. Each category names the asset account, the accumulated depreciation account and the depreciation expense account its postings use, plus a default salvage percentage.
- Set the three accounts once, and every asset in the category posts the same way
- An asset can be disposed of once its category has all three accounts
Depreciation
Depreciation worked out month by month
Finance Hero builds the monthly schedule as soon as an asset is registered. Straight-line spreads cost less salvage evenly over the useful life; reducing balance applies a twelfth of your yearly rate to the remaining book value each month, never going below the salvage value.
- The asset page shows each month's amount, accumulated depreciation, net book value and whether it is posted
- Run for period posts depreciation expense against accumulated depreciation, using the accounts of each asset's category
- Each month posts only once, and a hard-closed period refuses the run
Disposal
Disposals with the gain or loss booked
When you sell or scrap an asset, enter the disposal date and the amount received. Finance Hero posts the disposal journal: the proceeds come in, accumulated depreciation is cleared, the asset leaves at cost and the difference is booked as a gain or a loss.
- Depreciation stops once an asset is disposed of
- The disposal date and amount stay on the asset's record
02Also included
Around the register
Net book value after every month
The schedule shows the net book value after each month, posted or still pending.
Straight into the ledger
Depreciation and disposal journals appear in the journal list and flow into the balance sheet and the trial balance.
Closed months stay closed
A depreciation run into a hard-closed period is refused, so closed figures do not change.
Audit trail
Registrations and disposals are recorded with who made them and when.
Who can do what
Viewing assets and managing assets and depreciation are separate permissions that you give by role.
Export the register
Select assets or pending depreciation rows and export them to CSV.
03Step by step
Set up fixed assets in four steps
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Step 1 Create categories
Add asset, accumulated depreciation and depreciation expense accounts to your chart, then choose them for each category.
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Step 2 Register your assets
Enter the cost, salvage value, useful life and method; the schedule appears straight away.
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Step 3 Run depreciation monthly
Pick the month on the Depreciation page, check what is pending and post it.
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Step 4 Dispose when you sell
Enter the date and the amount received, and the disposal journal posts itself.
04FAQ
Questions about fixed assets
Not answered here? Write to [email protected]. A person from our team in Skopje replies, Monday to Friday, 09:00–17:00 CET.
Which depreciation methods are available?
Straight-line and reducing balance, both with a monthly schedule. For reducing balance you set a yearly rate, 20% unless you choose another, and each month a twelfth of it is applied to the remaining book value.
Does depreciation post automatically every month?
No, you start it: choose the month on the Depreciation page, check the pending rows and select Run for period. The journals are dated the first day of that month.
What if we run the same month twice?
Nothing posts twice. Each row of the schedule is posted once, so a second run for the same month finds nothing pending.
Where do the disposal proceeds and the gain or loss go?
The proceeds are debited to your cash account, and the gain or loss is posted to the depreciation expense account of the asset's category. If you sold the asset on credit, move the proceeds with a manual journal.
Does registering an asset post its purchase?
No. Book the purchase as usual, through the supplier bill or a journal, to the category's asset account. The register then takes care of the asset's depreciation and its disposal.
Are vehicles in Fleet Hero linked to the asset register?
Not automatically. Register a company vehicle as a fixed asset in Finance Hero; its record in Fleet Hero, the fleet management app of Office Hero, stays separate.
Which package includes fixed assets?
Fixed assets and depreciation come with Professional, at €59 per company per month with 10 users. Prices exclude VAT.
See fixed assets in Finance Hero
Book a demo and we will register an asset with you, run a month of depreciation and post a disposal.