BizBox Fixed Assets is designed to make the administration of fixed assets as easy and painless as possible.

Asset Master: Enter all company assets through this option. The Supplier Invoice, G/L transactions are all created automatically when the asset is posted.

Browse Invoices: You can check on all the fixed assets created in the system through this option. You can search for an invoice through the document ID or by Supplier.

Browse Journals: Creating a journal here, rather than in General Ledger means the transaction will appear in the “G/L Transactions” <Tab> on the asset master. If you don’t then there is no way of linking the G/L transaction to the asset.

Asset List: A list of assets sorted by active/inactive and showing all the key information about the asset at a glance. There are 5 asset records to a single page.

Asset Master: A more detailed report of the asset showing all key information plus all the general ledger transactions pertaining to that asset. Each page is dedicated to a single asset.

Asset Retirement This report shows a list of assets that are coming to the end of their lives and decisions need to be made to either scrap them or sell them.

Asset Defaults: These are the defaults that apply to new assets but you can change to suit.

Asset Groups: These cover overall categories as well as provide General Ledger links.

Category Search: You can search for an asset through this facility. You can add categories in <Asset Groups>.

3 Types of depreciation are currently catered for: Straight Line, Diminishing Value and Sum of Digits. Choose the one that best suits your accounting processes.

When an asset is invoiced: Asset @ Cost Debit Supplier Control / Bank: Credit Tax Account Debit

When an asset is depreciated: Depreciation Debit Accumulated Depreciation Credit

When an Asset is sold/scrapped: Asset @ Cost Credit Accumulated Depreciation Debit Profit/Loss on Sale Debit OR Credit Depreciation Debit Bank Debit