If you explain a purchase using a fixed asset account then the system will generate a new pending asset on the fixed asset register.

This guide explains how to add a new asset if ever a pending asset does not exist (asset purchased before using Clear Books/fixed asset account not used/Pending asset deleted).

Step 1.

Navigate to Tools > Fixed assets.

Fixed assets

Step 2.

If this is your first asset skip to step 3.

Click on the Create fixed asset button.

Step 3.

Fill out the details of the form appropriately. You may need to enter an accumulated depreciation amount if the purchase was prior to starting Clear Books.

For the Reducing balance method of depreciation enter both the Depreciation rate and Economic Life.

For the Straight line method of depreciation enter the Depreciation rate and the system will automatically populate the Economic Life.

You can select from the default accounts for both the Depreciation account and Accumulated depreciation account. You can create custom accounts for these on the Settings > Accounting > Account codes menu.

fixed asset new

Step 4.

Click on the Confirm new asset button to complete.