A pending asset is generated on the fixed asset register as soon as you explain any transaction (excluding journals) with a fixed asset account.


When you have approved the pending fixed asset you can toggle on auto depreciation or depreciate this specific fixed asset manually.


Step 1.


First, create a bill with a fixed asset account (listed under the non current assets heading). You can create your own custom fixed asset accounts as long as the fixed assets account type is used.



Alternatively, explain a money out transaction for the appropriate bank account on the Money > Bank accounts menu, or import statement and explain the payment. In both cases, fill out the transaction form selecting a fixed asset account.


fixed asset money out


Step 2.


Navigate to the Tools > Fixed assets menu.


Fixed assets


Step 3.


The pending assets will be listed on both the Fixed assets link and Pending link with (Pending) after their name.


fixed asset pending assets


Step 4.


Click on the edit icon under the Options column for the appropriate asset.


fixed asset edit pending


Step 5.


Fill out the details of the form appropriately.


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 approve


Step 6.


Click on the Approve button to complete.