Registered

The Registered feature displays all active fixed assets that have been successfully registered. When the status of a fixed asset is changed from Draft to Registered and saved, all information entered in the Draft is transferred to the Registered list. Once registered, the asset becomes active and is available for depreciation, reporting, and disposal.

Note: After a fixed asset is registered, the system begins managing it based on the configured depreciation settings.

Field Description

1. Fixed Asset Group – Select the Fixed Asset Group to apply the asset's accounting and depreciation settings.
2. Status – Displays the current status of the fixed asset.
3. Code – Enter a unique code for the fixed asset.
4. Purchase Date – Enter the date the fixed asset was purchased.
5. Name – Enter the name of the fixed asset.
6. Purchase Cost – Enter the acquisition cost of the fixed asset.
7. Use Tax Depreciation – Enable this option to use tax depreciation settings, if applicable.

Book

1. Depreciation Start Date – Select the date depreciation begins.
2. Residual Value – Enter the estimated value of the asset at the end of its useful life.
3. Depreciation Method – Select Straight-Line or Declining Balance.
4. Averaging Method – Select Full Month or Full Year.
5. Useful Life (Years) – Enter the estimated useful life of the asset.
6. Opening Accumulated – Enter the accumulated depreciation if migrating existing fixed assets.

Additional Info

1. Vendor – Select the vendor from whom the asset was purchased.
2. Serial Number – Enter the asset's serial number, if applicable.
3. Bill No – Displays the related purchase bill number.
4. Warranty Expiry Date – Enter the warranty expiration date.
5. Tagging Code – Enter an internal asset tag or identification code.
6. User – Specify the employee or person responsible for the asset.
7. Fixed Asset Location – Select the physical location of the asset.
8. Remarks – Enter additional notes or comments about the asset.

Recommendation:

1. Verify all asset information while it is in Draft status before changing the status to Registered.
2. Register a fixed asset only when the asset information is complete and ready for depreciation and financial reporting.
3. Once the asset is registered, any subsequent changes should be made carefully, as they may affect depreciation calculations and financial reports.