Asset Categories
Asset Categories
Asset Categories let you group Fixed Assets by type -- for example, Vehicles, Computer Equipment, or Machinery -- and set the three GL accounts that every asset in the group needs. When you assign a category to a new asset, those accounts fill in automatically, saving you from selecting them individually for every asset you create.
Where to find it
Go to Accounting > Asset Categories.
Asset Categories list, depreciation classes used by Fixed Assets.
What the list shows
| Column | Description |
|---|---|
| Code | Short unique identifier for the category (e.g., EQUIP) |
| Name | Descriptive label shown in asset lists and Reports |
| Description | Optional notes |
| GL Accounts | Shows Configured (all three accounts set) or Not set (one or more accounts missing) |
Fields when creating or editing a category
| Field | Description |
|---|---|
| Code | Short unique code (required) |
| Name | Category name (required) |
| Description | Optional notes |
| Asset account | Default balance-sheet asset account pre-filled on new assets in this category (Asset type) |
| Accum. depr. account | Default accumulated depreciation contra-asset account (Asset type) |
| Depr. expense account | Default depreciation expense account pre-filled on new assets (Expense type) |
Tips
- Set up your categories before creating assets. Pre-configured GL accounts reduce errors and save time when you have many assets to enter.
- A category cannot be deleted while any asset is still assigned to it -- reassign or dispose of those assets first.
- The GL Accounts badge tells you at a glance which categories are fully configured and ready to use.
Related: Fixed Assets · Fixed Asset Products · Chart of Accounts
Was this page helpful?