Introduction to the Asset Register
The Asset register should contain separate records for each Asset owned by the business.
After recording an Asset in the Asset register, proceed as follows:
- In some countries, it is necessary to create a Nominal Ledger Transaction when an Asset is put into use. This Transaction is given the term "Put in Use" Transaction in Standard ERP and in this documentation. Please refer here for details.
- To be able to depreciate an Asset, you must first specify a Depreciation Model and an Asset Category and/or Asset Class in the in the Asset, and the date on which depreciation is to begin. You can then regularly depreciate the Asset, as described here.
- If you need to move an Asset to another Department or change the Person who is responsible for the Asset, it is recommended that you do so using the Asset Status register. This will mean that a history for the Asset is built up and recorded. Please refer here for details.
- If you need to change the value of an Asset (i.e. the value that is used when calculating depreciation), you can do so by entering a record in the Revaluation register.
- If you have sold an Asset or need to write one off, you can do so using the Disposal register.
Please refer to the following pages for more details about the Asset register in Standard ERP:
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