Fixed assets register

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The Fixed Assets Register (please check the short presentation page) is an easy-to-use application (see How to start a Fixed Assets register), which allows you to:

  • Keep the list of your goods that need to be depreciated according to the tax regulations.
  • Automatically calculate the amortisations or in special cases, adapt the amounts manually.
  • Choose to obtain monthly, quarterly, half-yearly or yearly depreciations.
  • Transfer the amortisations rows directly into your Banana Accounting file.
  • Manage other changes in value (subsequent purchases, sales, divestments, or other) related to each asset.
  • Have a history of all the changes in the value of each asset.
  • Manage other information related to each asset, such as warranty expiration, insurance, location.

Excellent substitute for Excel tables for amortisation and depreciation

The Fixed assets register is a very precise, but also malleable tool that you can adapt perfectly to your needs. It allows you to automate the calculation of amortisations, but also gives you the possibility to enter it manually, so that when there are special cases or exceptions, you are not obliged to change formulas and totals.
The mode of use is inspired by Excel, so it is for immediate use and if you make a mistake you can always modify. You save time and thanks to the history of all changes you have a clear situation in case of tax audits.

The application can be used in combination with other accounting programs, you are much more flexible and also save on licensing costs. For each period (month, quarter, semester or year) you can have a printout of the amortisation summary to be recorded in your accounting program. You can also export the data if you wish.

The contents of the Fixed assets register

The fixed asset register file is composed of the following tables:

Easy and precise management thanks to accounting logic

As opposed to a regular Excel spreadsheet, changes in value (depreciation, new purchases, write-downs) are not entered in columns but in a transactions table.

  • In the Items table all the individual assets, with the date, purchase value, type and percentage of depreciation and other elements are listed.
  • In the Transactions table all depreciation, revaluations or write-downs for each individual asset are indicated
    • It is the historic trace of all value changes of the asset, from purchase to disposal.
    • The Create amortisation rows command calculates amortisation based on the settings in the Items table and generates amortisation rows.
    • The transactions values can be edited (if a different calculation is needed in the first year).
    • You can enter transaction for increases in value, special amortisation, adjustments to the tax value or other values.
  • The amortisation operations can be imported into your accounting file with the command Import into accounting.

Each item has different values

In contrast to the accounting, where generally only the current book value is kept, different values are kept in the Fixed Assets Register for each item.

  • It starts with the initial purchase value, which is entered manually in the Items table.
  •  All other values are calculated by the program, adding the changes entered in the Transactions table.
  • In the Transactions table for each type of variation there is a special column where you can enter the value.
    • Any augmentations are entered in positive.
    • Any diminutions (as depreciation) are entered in negative.
  • In the Items table for each value there is the total and the variation.
  Begin value (manually entered into the Items table)
+ Purchases, own production of modernization
- Sales
= Purchase value of the asset (The total expense).
+ Revaluations (e.g. due to inflation)
- Depreciation and write-downs (they change the historical value, other than depreciation and amortization, which only change the book value).
= Historical value (calculation basis for linear depreciation)
+ Reverse depreciation (reversal of depreciation)
- Amortisation
= Book value (basis for calculating depreciation on the residual value)
+ Increase fiscal value (depreciations not recognized for tax purposes)
- Decrease in fiscal value
= Fiscal value (Fiscal-recognized value)


In this way the program has all the elements to calculate depreciation automatically.

 

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