It is not just a fixed asset register that shows the number of assets you owned. MoneyWorks fixed asset is a complete fixed asset module that allows the accountant to process depreciation, revaluation, and disposing of assets.

It is common for small business accounting software not includes a fixed assets module; a module which allows the user to tracks and calculates depreciation of an individual asset automatically.

Software: Intuit QuickBooks #accounting software Some retailer or wholesaler may convert the existing inventory into a demo equipment for the showroom or as a loan set for testing. Your accountant may classify a demo equipment as a fixed asset aka non-current asset if the expenditure qualifies (Please check with your accountant if you have doubt […]

Software: MoneyWorks accounting software You bought a Computer, $1,800.00 before GST, for the company from a retail store with your credit card. How are you going to record this amount owing to you and the fixed asset in your MoneyWorks accounting software? The Credit Card account. You need to add a new Bank account type […]

Software: MoneyWorks accounting software When purchasing office equipment or machinery, business owner frequently use Hire Purchase to finance their purchases. There are multiple accounts involved in hire purchase transactions; there are fixed asset, Hire Purchase Creditor, Interest in Suspense and HP Interest expense accounts. Assuming you purchase a new Office Equipment at $20,000 and financed […]

Software: QuickBooks accounting software In Equipment Rental business, the equipment that you purchased are your assets, which you need to track the depreciation of it useful year. Besides, you need to keep track of the ins and outs of the equipment so to have a good feel of the stock availability. If you are using […]