How do I record a fixed asset purchase?

Entering a fixed asset purchase

A fixed asset purchase is recorded in exactly the same way as a regular expense purchase, except that a fixed asset category should be selected, rather than an expenditure category.
Fixed asset categories appear at the very bottom of the category dropdown on the enter/edit purchase screens. 

Note: if you have the role of 'Finance Team' you can update the category of a purchase from an expense category to a fixed asset category simply by clicking on the transaction.
Fixed Assets Permission
Permission to view/enter against a fixed asset category is given via the user settings screen in the same way as regular expenditure categories are. Again you will find the fixed asset categories at the very bottom of this screen. 
Fixed Asset Categories
To add/edit Fixed Asset categories, go to the Fixed Asset screen (accessible via the sidebar menu) and click 'Edit Categories'

You may wish to create the following asset categories for each fund:
  • Free Hold Property
  • Plant & Machinery
  • Fixtures & Fittings
  • Office Equipment
  • Computer Equipment
  • Audio / visual equipment
NOTE: Fixed asset purchases do not appear on income and expenditure reports (because they are not an expense), instead the value of the purchase expenditure is transferred to the Balance Sheet as an asset. You will find the value detailed on the Fixed Asset register.
Did this answer your question? Thanks for the feedback There was a problem submitting your feedback. Please try again later.

Still need help? Send us a message Send us a message