Fixed Asset Type

• Go to menu: Accounting → Settings→ Fixed Asset Type

• Click ‘New Asset Type”

• Input Fixed Asset Type details

• Name : Asset type name
• Fixed Asset Account : Fixed asset account code
• Depreciation Rate (%) : Rate by Percentage
• Depreciation Method : 2 methods are available

• Straight Line
• Declining Balance

• Accum. Depr. Account : Select accumulated depreciation account from chart of account
• Depr. Exp. Account : Depreciation expense account code
• Description : Other information
• Click save button after completion