Fixed Assets Module – User Help

Fixed Asset Location

Fixed Assets › Masters › Fixed Asset Location

Fixed Asset Location defines the physical storage or deployment location of an asset within a branch. Each asset in the Fixed Asset Master is assigned to a location record, enabling location-based asset tracking and reporting.

Figure 23 — Fixed Asset Location

Fields

Fixed Asset Location Fields

Field Name	Description	Required
Branch*	Branch or company entity to which this asset location belongs. Selected from a dropdown.	Yes
Location*	The branch/location within which this physical asset location exists. Linked to the system's location master.	Yes
Asset Location (Code)	Short alphanumeric code identifying this physical location (e.g. WH-A1, HO-REC).	No
Asset Location (Name)	Full descriptive name of the physical location (e.g. Warehouse Section A, Head Office Reception).	No
Inactive	Check to deactivate this asset location. Inactive locations cannot be assigned to new assets.	No

Steps

Click New

Open a blank Fixed Asset Location form.

Select Branch and Location

Choose the branch and the system location from the dropdowns.

Enter Asset Location Code and Name

Provide a short code and a descriptive name for the physical location.

Save

Click Save. Use List View to verify the record.

💡

Setup Before Asset MasterAsset Location records must exist before creating Fixed Asset Master records. The Asset Master references these locations to indicate where each asset is physically deployed.

Fixed Asset Group

Fixed Assets › Masters › Fixed Asset Group

Fixed Asset Groups are the top-level classification of assets — for example, Vehicles, Computer Equipment, Office Furniture, or Buildings. The group defines the depreciation method and default rate that will apply to all assets belonging to it.

Figure 24 — Fixed Asset Group

Fields

Fixed Asset Group Fields

Field Name	Description	Required
Group Code*	Unique short alphanumeric code for the group (e.g. VEH, COMP, FURN).	Yes
Group Name	Full descriptive name for the group (e.g. Vehicles, Computer Equipment).	No
Group Prefix*	Short prefix used when auto-generating asset serial numbers for this group (e.g. VH-, CP-).	Yes
Depreciation Method*	Depreciation calculation method selected from a dropdown — Straight Line Method (SLM) or Written Down Value (WDV).	Yes
Depreciation (%)	Default annual depreciation rate in percentage. Can be overridden at the subgroup or individual asset level.	No
Inactive	Check to deactivate this group. Inactive groups cannot be assigned to new subgroups or assets.	No

Steps

Click New

Open a blank Fixed Asset Group form.

Enter Group Code, Name, and Prefix

Provide a unique code, descriptive name, and asset serial number prefix.

Select Depreciation Method

Choose SLM or WDV from the dropdown.

Enter Depreciation (%)

Set the default annual depreciation percentage for this group.

Save

Click Save.

ℹ️

Depreciation Method Drives CalculationThe Depreciation Method set here flows down to all subgroups and assets in this group unless individually overridden at a lower level. Choose the method carefully as it affects all periodic depreciation calculations.

Fixed Asset Subgroup

Fixed Assets › Masters › Fixed Asset Subgroup

Fixed Asset Subgroups provide a second tier of classification under a Fixed Asset Group. Each subgroup is linked to the specific GL ledger accounts used when posting asset acquisition, accumulated depreciation, depreciation expense, and disposal profit or loss.

Figure 25 — Fixed Asset Subgroup

Fields

Fixed Asset Subgroup Fields

Field Name	Description	Required
Subgroup Code*	Unique short code for this subgroup (e.g. CARS, TRCK, LAPT).	Yes
Subgroup Name*	Full descriptive name (e.g. Passenger Cars, Trucks, Laptops).	Yes
Group Name*	Parent Fixed Asset Group. Selecting this links the subgroup to the group's depreciation method.	Yes
Asset Ledger	GL ledger used to record the cost/value of assets in this subgroup (the asset control account). Use the 🔍 search icon.	No
Acc Depreciation Ledger	GL ledger for accumulated depreciation (balance sheet contra-asset account). Use the 🔍 search icon.	No
Depreciation Exp Ledger	GL ledger for depreciation expense postings (income statement account). Use the 🔍 search icon.	No
Profit / Loss Ledger	GL ledger to which gain or loss on asset disposal or sale is posted. Use the 🔍 search icon.	No

Steps

Click New

Open a blank Fixed Asset Subgroup form.

Enter Subgroup Code and Name

Provide a unique code and descriptive name.

Select Group Name

Choose the parent Fixed Asset Group from the dropdown.

Map the GL Ledger Accounts

Use the search icons to select the Asset Ledger, Accumulated Depreciation Ledger, Depreciation Expense Ledger, and Profit/Loss Ledger.

Save

Click Save.

⚠️

Ledger Mapping is CriticalIf the ledger accounts are not mapped at subgroup level, depreciation entries and disposal postings will not generate correct GL entries. Always complete all four ledger fields before registering assets in this subgroup.

Fixed Asset Subgroup Division

Fixed Assets › Masters › Fixed Asset Subgroup Division

Fixed Asset Subgroup Division adds a third tier of classification within a Subgroup — useful for organisations that need a more granular breakdown, for example splitting Laptops into Dell Laptops and HP Laptops within the Computers subgroup.

Figure 26 — Fixed Asset Subgroup Division

Fields

Fixed Asset Subgroup Division Fields

Field Name	Description	Required
Subgroup Division Code*	Unique short code for this division (e.g. DELL-LPT, HP-LPT).	Yes
Subgroup Division Name*	Full descriptive name for the division (e.g. Dell Laptops, HP Laptops).	Yes
Subgroup Name*	Parent Fixed Asset Subgroup selected from a dropdown.	Yes

Steps

Click New

Open a blank Fixed Asset Subgroup Division form.

Enter Division Code and Name

Provide a unique code and descriptive name.

Select Subgroup Name

Choose the parent subgroup from the dropdown.

Save

Click Save.

💡

Optional TierSubgroup Division is an optional further classification. If your organisation does not require this level of detail, assets can be registered directly at the Subgroup level without creating Subgroup Division records.

Fixed Asset Master

Fixed Assets › Masters › Fixed Asset Master

The Fixed Asset Master is the central register of every individual asset owned by the organisation. Each record holds the asset's classification, acquisition details, depreciation parameters, current net book value, and optional property-specific information. Asset serial numbers are auto-generated based on the Group Prefix.

Figure 27 — Fixed Asset Master

Identity and Classification

Identity Fields

Field Name	Description	Required
Location Name*	Branch or location where the asset is registered. Selected from a dropdown.	Yes
Asset Group*	Fixed Asset Group to which this asset belongs.	Yes
Asset Subgroup*	Fixed Asset Subgroup within the selected group.	Yes
Custodian	Employee or person responsible for this asset. Use the 🔍 search icon.	No
Asset Serial No*	System-generated unique serial number based on the group prefix. Use … to look up an existing asset.	Auto
Asset Name	Descriptive name of the asset (e.g. Toyota Hilux – Plate ABC 123).	No
Supplier Name	Supplier from whom the asset was purchased. Use the 🔍 search icon.	No
Manufacturer	Manufacturer or brand of the asset.	No
Tax Ledger	GL ledger for any tax component on the asset purchase. Selected from a dropdown.	No

Acquisition and Value

Acquisition Fields

Field Name	Description	Required
Date of Acquisition*	Date the asset was purchased or received.	Yes
Usage Commenced On*	Date the asset was put into service and depreciation began.	Yes
Addition Value (USD)	Value of any subsequent capital additions to this asset.	No
Deletion Value (USD)	Value of any partial disposals or write-downs applied to this asset.	No
Net Value (USD)	Current net book value: Purchase Value + Additions – Deletions – Accumulated Depreciation. Read-only.	Auto
Original Cost (USD)*	Original purchase cost of the asset in USD.	Yes
Tax Value	Tax amount on the original purchase.	No
Total Value with Tax	Original Cost plus Tax Value. Read-only.	Auto
Purchase Posting Required?	Check if the asset purchase needs to be posted to the GL through a purchase voucher.	No

Depreciation

Depreciation Fields

Field Name	Description	Required
Depreciation Method*	Depreciation calculation method — Straight Line (SLM) or Written Down Value (WDV). Auto-filled from the group; can be overridden.	Yes
Depreciation (%/year)	Annual depreciation rate as a percentage. Auto-filled from the group.	No
Depreciation (USD/year)	Annual depreciation amount in USD. Auto-calculated.	Auto
Last Depreciated On	Date of the most recent depreciation posting. Read-only.	Auto
Depreciation (USD/Month)	Monthly depreciation amount. Auto-calculated.	Auto
Accumulated Dep. Value (USD)	Total depreciation charged to date. Read-only.	Auto
Written Off	Check when the asset has been fully written off. Prevents further depreciation entries.	No
Remarks	Free-text notes about this asset.	No

Attachments Tab

Attachments Grid

Field Name	Description	Required
Document Name	Descriptive label for the attached document (e.g. Purchase Invoice, Insurance Certificate).	No
Attachment	File attached to this asset record (scanned document, photo, etc.).	No

Property Details (Footer)

Property Fields

Field Name	Description	Required
Registration No	Registration number for vehicles or land/building registration reference.	No
Area Sq Feet	Floor area in square feet, applicable for property assets.	No
Address	Physical address of the property asset.	No

Steps

Click New

Open a blank Fixed Asset Master form.

Select Location Name, Asset Group, and Asset Subgroup

These three fields determine the asset's classification and the GL accounts used for depreciation.

Set Custodian

Search and select the responsible employee.

Enter Acquisition and Cost Details

Fill in Date of Acquisition, Usage Commenced On, and Original Cost (USD).

Verify Depreciation Parameters

Confirm Depreciation Method and rate are correctly inherited from the group, or override as needed.

Attach Supporting Documents

In the Attachments grid, attach the purchase invoice, warranty, or other relevant documents.

Fill Property Details if applicable

For land, buildings, or vehicles, complete Registration No, Area, and Address in the footer.

Save

Click Save. The system assigns the Asset Serial No automatically.

ℹ️

Usage Commenced On Drives DepreciationThe Usage Commenced On date — not the Date of Acquisition — is the date from which the system starts calculating depreciation. Ensure this is set correctly before the first depreciation run.

⚠️

Written Off FlagOnce Written Off is checked and saved, the system will prevent any further depreciation entries against this asset. Only check this when the asset has been fully depreciated or permanently disposed of.

Asset Addition

Fixed Assets › Transactions › Asset Addition

Asset Addition records a capital improvement or subsequent cost addition to an existing fixed asset — for example, a major engine overhaul that extends a vehicle's useful life, or a memory upgrade that increases a server's value. The addition increases the asset's net book value and is capitalised rather than expensed.

Figure 28 — Asset Addition

Header Fields

Field Name	Description	Required
Location*	Branch location to which the asset belongs. Use the 🔍 search icon.	Yes
Voucher Date*	Date of the asset addition transaction.	Yes
Voucher Number	System-generated voucher number. Use … to look up.	Auto
Location (Finance)*	Finance location for GL posting. May differ from the asset's physical location.	Yes
Asset Name*	The existing fixed asset being enhanced. Use the 🔍 search icon.	Yes
Currency	Transaction currency. Auto-filled based on the location.	Auto
Exchange Rate (to USD)	Rate to base currency. Read-only if USD is the transaction currency.	Auto
Exchange Rate (to Local)	Rate to local currency (CDF).	No
Notes*	Mandatory description of the capital addition being made.	Yes
Credit Ledger	GL ledger being credited for this addition (typically the payment or accrual account). Use the 🔍 search icon.	No
Sub Ledger	Subledger of the credit account, if applicable. Use the 🔍 search icon.	No
Addition Amount	Total value of the addition in the transaction currency. Auto-calculated from the Item Details grid.	Auto
Depreciation %	Depreciation rate applicable to the addition. Auto-filled from the asset record.	Auto
Addition Days	Number of days from the addition date to the financial year end, used to pro-rate depreciation. Read-only.	Auto
Depreciation/Year	Annual depreciation amount on the addition. Auto-calculated.	Auto
Depreciation/Month	Monthly depreciation on the addition. Auto-calculated.	Auto
Depreciation/Day	Daily depreciation on the addition. Auto-calculated.	Auto

Item Details Grid

Field Name	Description	Required
Item	Inventory item being capitalised as part of this addition (if the addition involves stock items).	No
Unit	Unit of measurement for the item.	Auto
Batch*	Batch of the selected inventory item.	Yes
Batch No*	Batch number. Selected from a dropdown after choosing the batch.	Yes
Stock	Available stock of the selected batch. Read-only.	Auto
Qty*	Quantity of the item being capitalised.	Yes
Cost Rate (in Base)	Unit cost in base currency. Auto-populated from the batch.	Auto
Cost Amount (in Base)	Total cost: Qty × Cost Rate. Auto-calculated.	Auto

Footer

Footer Fields

Field Name	Description	Required
Total Qty	Sum of all Qty values across the Item Details grid.	Auto
Total Amount	Total cost amount in base currency across all grid rows.	Auto

Steps

Click New

Open a blank Asset Addition form.

Select Location and Asset Name

Choose the branch and search for the asset being enhanced.

Enter Voucher Date and Notes

Set the transaction date and provide a mandatory description of the addition.

Select Credit Ledger

Choose the GL account being credited (e.g. Accounts Payable or Cash/Bank).

Add rows in Item Details

If the addition involves inventory items, select each item, batch, and quantity. Cost amounts calculate automatically.

Verify Addition Amount and Depreciation Fields

Confirm the total addition value and depreciation calculations in the header.

Save or Draft

Click Save to post, or Draft to hold for review.

ℹ️

Capitalisation vs ExpenseUse Asset Addition only for capital improvements that increase the asset's value or extend its useful life. Routine maintenance and repairs should be posted as expenses via the Payment or Journal voucher — not through Asset Addition.

Asset Deletion

Fixed Assets › Transactions › Asset Deletion

Asset Deletion records a partial disposal, write-down, or partial retirement of an existing fixed asset. It reduces the asset's recorded value by the deletion amount specified. This is distinct from a full sale of the asset (which uses Sale of Fixed Assets) and is used for cases such as partial scrapping, impairment write-downs, or component disposals.

Figure 29 — Asset Deletion

Fields

Asset Deletion Fields

Field Name	Description	Required
Location*	Branch location to which the asset belongs. Use the 🔍 search icon.	Yes
Voucher Date*	Date of the asset deletion transaction.	Yes
Voucher Number	System-generated voucher number. Use … to look up.	Auto
Asset Name*	The existing fixed asset from which value is being removed. Use the 🔍 search icon.	Yes
Currency	Currency of the deletion amount. Auto-filled from the asset record.	Auto
Exchange Rate (to USD)	Rate to base currency. Read-only if USD.	Auto
Debit Ledger*	GL ledger being debited for this deletion (e.g. a Loss on Disposal or Impairment account). Use the 🔍 search icon.	Yes
Sub Ledger	Subledger of the debit account, if applicable.	No
Deletion Amount*	Amount to be removed from the asset's book value.	Yes
Notes*	Mandatory description of the reason for this deletion (e.g. partial scrapping, impairment).	Yes
Depreciation %	Depreciation rate on the deleted portion. Auto-filled from the asset.	Auto
Deletion Days	Number of days used to pro-rate depreciation on the deleted portion.	Auto
Depreciation/Year	Annual depreciation amount on the deleted value. Auto-calculated.	Auto
Depreciation/Month	Monthly depreciation on the deleted value. Auto-calculated.	Auto

Steps

Click New

Open a blank Asset Deletion form.

Select Location and Asset Name

Choose the branch and search for the asset.

Enter Voucher Date

Set the transaction date.

Select Debit Ledger

Choose the GL account to be debited — typically an impairment loss or disposal account.

Enter Deletion Amount

Type the value to be removed from the asset's net book value.

Enter mandatory Notes

Describe the reason for the deletion.

Save

Click Save. Cancel is available to void an unsaved deletion.

⚠️

Deletion Reduces Net Book ValueThe Deletion Amount directly reduces the asset's Net Value (USD) in the Fixed Asset Master. Verify the Deletion Amount carefully — it cannot exceed the current net book value of the asset.

Depreciation Entry – Itemwise

Fixed Assets › Transactions › Depreciation Entry - Itemwise

Depreciation Entry – Itemwise is the screen used to post periodic depreciation charges for individual assets. Each run selects the assets to be depreciated for a given period, auto-populates the depreciation amount per asset based on the method and rate from the asset master, and posts the corresponding GL entries (Debit: Depreciation Expense; Credit: Accumulated Depreciation).

Figure 30 — Depreciation Entry – Itemwise

Header Fields

Field Name	Description	Required
Location*	Branch for which depreciation is being run. Auto-populated from the user's default location.	Yes
Voucher Date*	Accounting date for this depreciation posting (typically the last day of the month or period).	Yes
Voucher Number	System-generated voucher number. Auto-populated. Use … to look up.	Auto
Currency	Currency for this depreciation run. Defaults to USD.	Auto
Exchange Rate (to Base)	Rate to base currency. Defaults to 1.0000 for USD.	Auto

Depreciation Details Grid

Field Name	Description	Required
Asset Code	Select the asset to depreciate from the dropdown. Multiple assets can be added as separate rows.	No
Asset Name	Auto-populated after selecting the Asset Code. Read-only.	Auto
Group	Asset Group to which the selected asset belongs. Read-only.	Auto
Subgroup	Asset Subgroup of the selected asset. Read-only.	Auto
Purchase Value	Original cost of the asset. Read-only.	Auto
Acc. Dep. Value	Accumulated depreciation charged to date before this entry. Read-only.	Auto
Net Value	Current net book value before this depreciation entry. Read-only.	Auto
Depreciation / Month*	Monthly depreciation amount from the asset master. Editable if a manual override is needed.	Yes
Depreciation Amount	Total depreciation being charged in this entry. Typically equal to Depreciation/Month. Editable.	Yes
Narration	Description of this depreciation line (e.g. Monthly depreciation – November 2025).	No

Footer

Field Name	Description	Required
Total Amount	Sum of all Depreciation Amount values across the grid. Read-only.	Auto
Remarks	Free-text note about this depreciation run.	No

Steps

Click New

Open a blank Depreciation Entry – Itemwise form.

Verify Location and set Voucher Date

Confirm the branch and set the date to the last day of the depreciation period.

Add Asset rows

In the Depreciation Details grid, select each asset to be depreciated this period from the Asset Code dropdown. Depreciation/Month and other values fill automatically.

Review Depreciation Amounts

Verify that the system-calculated amounts are correct. Override if required.

Enter Narration per row

Add a line description for each asset row.

Save

Click Save to post the depreciation entries to the GL.

ℹ️

Run MonthlyDepreciation Entry – Itemwise should be run once per accounting period (typically monthly). Running it twice in the same period for the same asset will result in double depreciation unless the previous entry is cancelled first.

💡

Voucher Details TabUse the Voucher Details tab after saving to review the exact GL debit and credit postings generated by this depreciation run.

Inventory To FA Conversion

Fixed Assets › Transactions › Inventory To FA Conversion

Inventory To FA Conversion is used when an inventory item that was originally purchased as stock is reclassified and capitalised as a fixed asset. For example, a spare laptop purchased for resale that is now retained for internal use. This screen reduces the inventory stock and creates the corresponding fixed asset record.

Figure 31 — Inventory To FA Conversion

Header Fields — Inventory Side

Inventory Header

Field Name	Description	Required
Location*	Branch where the inventory item currently resides. Auto-populated. Use the 🔍 search icon to change.	Yes
Item*	Inventory item being converted to a fixed asset. Use the 🔍 search icon.	Yes
Unit*	Unit of measurement of the selected item. Auto-filled.	Auto
Batch	Batch of the inventory item. Selected from a dropdown.	No
Batch Stock	Available stock in the selected batch. Read-only.	Auto
Quantity*	Number of units being converted to fixed assets.	Yes
Remarks	Free-text description of the conversion.	No
Issue No.	System-generated issue number for the inventory reduction. Use … to look up.	Auto
Issue Date*	Date of the inventory issue (conversion date).	Yes
Expiry Date	Expiry date of the batch being issued, if applicable. Read-only.	Auto
Cost Price (in Base)	Unit cost of the item in base currency. Auto-filled from the batch.	Auto
Cost Amount (in Base)	Total cost: Quantity × Cost Price. Auto-calculated.	Auto

Fixed Asset Tab — Grid Columns

Fixed Asset Grid

Field Name	Description	Required
Asset Group*	Fixed Asset Group under which the converted item will be registered.	Yes
Asset Subgroup	Fixed Asset Subgroup for this asset.	No
Subgroup Division	Subgroup Division for this asset, if applicable.	No
Asset Location*	Physical location where the asset will be deployed. Selected from the Fixed Asset Location master.	Yes
Supplier Name*	Supplier of the original item being converted. Selected from a dropdown.	Yes
Custodian	Employee responsible for this asset. Use the 🔍 search icon.	No
Asset Name*	Name to be assigned to the newly created fixed asset record.	Yes
Asset Value*	Value at which the asset is to be capitalised (typically the inventory cost).	Yes
Depreciation Method	Depreciation method to apply to this asset.	No
Depreciation (%)	Annual depreciation rate for this asset.	No

Steps

Click New

Open a blank Inventory To FA Conversion form.

Select Location and Item

Choose the branch and the inventory item being converted.

Select Unit, Batch, and Quantity

Set the batch and the number of units to convert.

Enter Issue Date

Set the date of conversion. Remarks are optional.

Switch to the Fixed Asset tab

Complete the asset details: Asset Group, Asset Location, Supplier Name, Asset Name, and Asset Value.

Set Depreciation Method and Rate

Override the group defaults if needed for this specific asset.

Save

Click Save. The system reduces inventory stock and creates a new Fixed Asset Master record.

ℹ️

Two-Sided TransactionInventory To FA Conversion simultaneously reduces the inventory balance (issues the stock) and creates a fixed asset record. Both the inventory and fixed asset GL accounts are updated in a single posting.

Sale of Fixed Assets

Fixed Assets › Transactions › Sale of Fixed Assets

Sale of Fixed Assets records the disposal of an asset through a sale transaction. The screen captures the sale amount, automatically calculates accumulated depreciation and net book value, and posts the gain or loss on disposal to the configured Profit and Loss Ledger from the asset's subgroup.

Figure 32 — Sale of Fixed Assets

Fields

Sale of Fixed Assets Fields

Field Name	Description	Required
Location	Branch from which the asset is being sold. Auto-populated; can be changed.	Auto
Transaction Type*	Voucher series for fixed asset sales.	Yes
Customer Name*	Customer purchasing the asset. Selected from a dropdown.	Yes
Asset Serial Number*	Serial number of the asset being sold. Selected from a dropdown — shows all active assets at this location.	Yes
Asset Name	Asset name. Auto-filled after selecting the serial number. Read-only.	Auto
Location (Asset)	Physical location of the asset. Auto-filled. Read-only.	Auto
Currency*	Currency of the sale transaction.	Yes
Exchange Rate (to USD)*	Rate from sale currency to USD.	Yes
Sale Amount*	Agreed sale price of the asset in the transaction currency.	Yes
Remarks	Free-text notes about the sale.	No
Voucher Number*	System-generated sale voucher number.	Auto
Voucher Date*	Date of the asset sale.	Yes
Asset Value	Current net book value of the asset at the sale date. Auto-filled. Read-only.	Auto
Purchase Value	Original purchase cost of the asset. Auto-filled. Read-only.	Auto
Acc. Dep. Value	Total accumulated depreciation on this asset to the sale date. Auto-filled. Read-only.	Auto
Profit/Loss	Difference between Sale Amount and Net Book Value. Positive = gain; negative = loss. Auto-calculated. Read-only.	Auto
Profit and Loss Ledger	GL ledger to which the gain or loss is posted. Auto-filled from the asset's subgroup configuration. Read-only.	Auto
Asset Ledger	GL ledger for the asset cost account. Auto-filled from the subgroup. Read-only.	Auto

Steps

Click New

Open a blank Sale of Fixed Assets form.

Select Transaction Type and Customer Name

Choose the sale voucher series and the purchasing customer.

Select Asset Serial Number

Choose the asset being sold. Asset Name, Location, Purchase Value, Acc. Dep. Value, and Net Book Value fill automatically.

Select Currency and confirm Exchange Rate

Set the sale currency and exchange rate.

Enter Sale Amount

Type the agreed sale price. Profit/Loss calculates automatically.

Enter Voucher Date

Set the date of sale.

Save or Save and Print

Click Save to post the disposal entries, or Save and Print to generate the sales document.

ℹ️

Automatic Gain/Loss PostingThe system automatically posts the gain or loss to the Profit and Loss Ledger configured in the asset's subgroup. Ensure this ledger is correctly mapped in Fixed Asset Subgroup before recording sales.

Fixed Asset Transfer

Fixed Assets › Transactions › Fixed Asset Transfer

Fixed Asset Transfer records the movement of an asset from one location or custodian to another within the organisation. It updates the asset's physical location and responsible custodian in the Fixed Asset Master without affecting the asset's financial value or depreciation schedule.

Figure 33 — Fixed Asset Transfer

Fields

Fixed Asset Transfer Fields

Field Name	Description	Required
Location	Source location (current location of the asset). Auto-populated from user context.	Auto
Transfer Date*	Date the asset transfer takes place.	Yes
Transfer No.*	System-generated transfer document number. Use … to look up.	Auto
Asset Code*	Asset serial number/code of the asset being transferred. Selected from a dropdown.	Yes
Asset Name	Asset name. Auto-filled after selecting the Asset Code. Read-only.	Auto
Asset Location*	Current physical location of the asset. Auto-filled from the asset record. Read-only.	Auto
Current Custodian No.*	Employee number of the current responsible custodian. Auto-filled from the asset record. Read-only.	Auto
Current Custodian Name	Name of the current custodian. Auto-filled. Read-only.	Auto
To Location*	Destination branch/location to which the asset is being transferred.	Yes
Asset Location (New)*	New physical location at the destination branch. Selected from a dropdown.	Yes
Custodian No. (New)*	Employee number of the new custodian at the destination. Use the 🔍 search icon.	Yes
Custodian Name (New)	Name of the new custodian. Auto-filled after selecting Custodian No. (New). Read-only.	Auto
Remarks	Free-text description of the reason for the transfer.	No
Currency	Currency of the asset. Auto-filled. Read-only.	Auto
Purchase Value	Original purchase cost of the asset. Auto-filled. Read-only.	Auto
Acc. Dep. Value	Accumulated depreciation to date. Auto-filled. Read-only.	Auto
Net Value	Current net book value of the asset. Auto-filled. Read-only.	Auto

Steps

Click New

Open a blank Fixed Asset Transfer form.

Set Transfer Date

Enter the date of the physical transfer.

Select Asset Code

Choose the asset being transferred. Current location and custodian details fill automatically.

Select To Location

Choose the destination branch from the dropdown.

Select Asset Location (New)

Choose the physical location at the destination branch.

Select Custodian No. (New)

Search for the new responsible person. Custodian Name fills automatically.

Enter Remarks

Optionally describe the reason for transfer (e.g. Relocated to new branch office).

Save or Save and Print

Click Save to update the asset master with the new location and custodian.

ℹ️

No Financial ImpactFixed Asset Transfer does not affect the asset's cost, accumulated depreciation, or net book value — it only updates the physical location and custodian information in the Fixed Asset Master. Depreciation continues to run on the same schedule after the transfer.

Quick Reference

A summary of all Finance Module screens, their navigation paths, toolbar buttons, and key mandatory fields.

Screen Summary

#	Screen	Navigation Path	Key Mandatory Fields
23	Fixed Asset Location	Fixed Assets > Masters > Fixed Asset Location	Branch, Location
24	Fixed Asset Group	Fixed Assets > Masters > Fixed Asset Group	Group Code, Group Prefix, Depreciation Method
25	Fixed Asset Subgroup	Fixed Assets > Masters > Fixed Asset Subgroup	Subgroup Code, Subgroup Name, Group Name
26	FA Subgroup Division	Fixed Assets > Masters > Fixed Asset Subgroup Division	Division Code, Division Name, Subgroup Name
27	Fixed Asset Master	Fixed Assets > Masters > Fixed Asset Master	Location, Asset Group, Asset Subgroup, Date of Acquisition, Usage Commenced On, Original Cost
28	Asset Addition	Fixed Assets > Transactions > Asset Addition	Location, Voucher Date, Location(Finance), Asset Name, Notes
29	Asset Deletion	Fixed Assets > Transactions > Asset Deletion	Location, Voucher Date, Asset Name, Debit Ledger, Deletion Amount, Notes
30	Depreciation Entry – Itemwise	Fixed Assets > Transactions > Depreciation Entry - Itemwise	Location, Voucher Date; Asset Code and Depreciation Amount per row
31	Inventory To FA Conversion	Fixed Assets > Transactions > Inventory To FA Conversion	Location, Item, Quantity, Issue Date; Asset Group, Asset Location, Supplier Name, Asset Name, Asset Value
32	Sale of Fixed Assets	Fixed Assets > Transactions > Sale of Fixed Assets	Transaction Type, Customer Name, Asset Serial Number, Currency, Sale Amount, Voucher Date
33	Fixed Asset Transfer	Fixed Assets > Transactions > Fixed Asset Transfer	Transfer Date, Asset Code, To Location, Asset Location (New), Custodian No. (New)

Required Field Badges

Yes Mandatory — cannot save without this field No Optional — can be left blank Auto System-generated or auto-calculated — read-only Cond Conditional — required depending on account setup

ℹ️

Multi-Currency RuleAll transaction forms capture Exchange Rate (to Base) as mandatory and Exchange Rate (to Local) where applicable. The system auto-calculates Base and Local currency amounts on every transaction line.