Fixed Assets and Depreciation

(Accountant Plus and Financial Controller users only)

Depreciation of your fixed assets is an expense to your company that can be offset against the profits you make. At the same time the asset value of your company is being reduced by the same amount. Use this option to keep control of this depreciation and make sure that your companyÆs profit & loss and balance sheet accounts are updated with accurate monthly depreciation values.

The Fixed Assets register in Sage Line 50 makes it easy for you to keep a record of your fixed assets and set up their depreciation rates and depreciation methods.

Every time you run the Month End routine, Sage Line 50 looks at these asset records and for each asset, posts the required amount of depreciation to the appropriate profit & loss account and posts the same amount to the accumulated depreciation account in the balance sheet.

The Fixed Assets window gives you the options you need to keep track of your fixed assets, their rates of depreciation and their current value.

As you create fixed asset records using the Record button you can add or edit all of your fixed asset details such as the reference, description, method of depreciation, depreciation rate, cost price etc. As each record is created, each asset appears as a single line in the Fixed Assets list box. They will be depreciated by the amounts indicated on the record when you run the month end procedure.

Select from this list the asset or assets you require and then choose the option you want to work with from the Fixed Assets toolbar. For information about how to set up your fixed asset records and depreciation select the Related Topics button below, for a list of topic titles.