A pending asset can be created when creating the bill for the asset transaction.

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.


Step 2 .

Once the invoice has been created you will be prompted to create a pending fixed asset.

Step 3.

Navigate to the Tools > Fixed assets > Pending menu.

The pending assets will be listed on both the Fixed assets link and Pending link with (Pending) after their name. Click on the edit icon under the Options column for the appropriate asset.

Step 4.

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.

Step 5.

Click on the Approve button to complete.

Technical support is available from Monday to Friday, 9 - 5.

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