Feature
A fixed asset register that ties to the ledger
Register what you own, depreciate it on a schedule, and produce the statutory note to the accounts without rebuilding it in a spreadsheet every year.
Three ways an asset arrives
Register an asset whose cost is already posted; buy one on credit, which raises and posts a vendor bill so the payable is a real numbered document in the payables subledger; or capitalise a balance already sitting in capital work in progress straight into its final property, plant and equipment account, dated the day it went into service.
- Each asset names the PPE account its cost was capitalised into
- A credit purchase is payable through the ordinary payment path, with its voucher and cheque
- A capitalisation out of work in progress is capped at that account’s live balance
- Disposal credits the asset’s own account, not a hardcoded one
Straight-line depreciation, on demand
Run depreciation for a period and it posts once per asset per period. Re-running the same period is a no-op rather than an error, so there is no way to double-charge a month by clicking twice.
The SECP / ICAP fixed assets schedule
The statutory note in the prescribed format: one row per class of asset, with cost rolled forward across opening, additions, disposals and adjustments, accumulated depreciation rolled forward the same way, written down value, and a depreciation rate. A class is a PPE account rather than a free-text category, which is what makes each class total equal that account’s ledger balance and the grand total equal the PPE section of the balance sheet.
Questions, answered
Why is the rate sometimes blank?
Because the class held nothing in the period. The rate is cost-weighted across the assets actually held, and a zero would read as "not depreciated" when the truth is that there was nothing there to depreciate.
What are the adjustment columns?
Residuals. The closing figures are computed independently, so the adjustment column absorbs anything the movement columns did not explain — which means each half of every row adds up by construction. In clean books both are zero, and a figure appearing there is telling you something.
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