The asset register is used to record
the assets of the business to assist in asset stocktakes, reconciliation
with general ledger, and tax records. The asset register may also be used
to keep track of maintenance required for different assets. An asset register
is particularly useful when selling assets, as the purchase date, price
and written down value (WDV) must be known in order to make the correct
accounting and tax adjustments.
- Full details
of asset including purchase details, capital approvals, ledger accounts
for asset and depreciation, depreciation type and rate, sales details.
- Variable depreciation rates using Prime Cost (Straight Line) or
Diminishing Balance (Reducing) methods.
- May maintain book, tax and revaluation figures for all assets.
- Maintenance schedule may be established for each asset.
- Integrated with General Ledger module to automatically post depreciation.
Return to EASE Modules