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Tutorial: Track property as fixed assets, select depreciation type and record sales as disposals.
Content
In the Inventory module, click on the second tab Fixed assets and open the dialog box via Add. Here you need to set a name and the asset account. Entering a description and the location are optional. By clicking on Save CashCtrl opens the second tab Images. Here optionally a picture of the asset can be stored.
In the Acquisition tab, the Purchase (book directly) option is selected by default. Here the purchase date, the settlement account, the applied tax rate and the purchase price are stored.
If the asset was acquired historically, i.e. before the accounting was started with CashCtrl, the option Historic (don't book) can be selected in the drop-down menu above and the purchase price and the current book value can be defined.
The Historic (don't book) option is also suitable for the following scenarios:
There are two methods of depreciation to choose from: linear or declining. In the case of linear depreciation, the annual depreciation is calculated using the original purchase price; in the case of declining depreciation, the annual depreciation is calculated using the book value.
The duration of depreciation automatically changes the percentage at which annual depreciation is calculated. The default salvage value is set to 1, but can be overwritten.
In addition, the expense account for depreciation must be defined here. It is advisable to select account 6800 Depreciation or an analogous account of the own chart of accounts.
When a new fixed asset is created, it is proposed by default In the inventory (no disposal). If a fixed asset is to be disposed of from the company's assets, there is a choice here:
Only disposal (no sale) is selected if the asset no longer has any value and does not generate any income.
Sale (book directly) is used when a revenue is generated from the sale.
