Asset Category

1) Asset > New Asset Category

Asset category describes about the characteristics of an asset which you want to add in the application. category addition will help to add a particular item or product under a particular asset category.

From the above screenshot, some of the requirement fields needs to be filled up for further process of creating an asset category.

Type: Defines the type of asset whether it is tangible or intangible asset

Name: Name of the Category

Depreciation Model: Category includes what type of depreciation will it be under this category whether it is a cost model or revaluation model

Depreciation Account: Under what depreciation account will the asset category fall for depreciation

Depreciation Rate (Year): Percentage of depreciation under this asset category in a year

Depreciation Pulse: Frequency of depreciation whether it is monthly, yearly, quaterly, half yearly

Account Code: Under which asset account will this asset category fall

Depreciation Policy: Policy of depreciation whether it will depreciate as straight line method or Reducing Balance method

Life (Tax): Tax related to your fixed asset or any other asset. For example: Car as an asset that lies in the category for Life (Tax) . (Note that this is optional and only required if you have such items or products that has tax reducing after a certain time)

Life (MIS): Optional if there is any MIS then you can provide

2) Asset Category List: Shows all the list of asset category that are created in the application.

From the list page it shows that on the left side of the window, all the names of the asset category that are created were shown and the basic information related to specific asset categories are shown in the right side.

Addition of New Asset category is also possible from the list page window by clicking on the "+" icon on the top of the left side just beside the heading of Asset Category

It also has the ability to modify or make changes to any asset category by clicking on the edit option on the top right corner