Fixed Asset Products
Fixed Asset Products
Fixed Asset Products are product records with depreciation defaults pre-configured. When a vendor bill containing one of these Products is posted to the GL, CifraHQ automatically creates a Fixed Asset record for each unit on that bill line -- no manual data entry required. Think of them as product templates for the Fixed Assets module.
Where to find it
Go to Accounting > Fixed Asset Products.
Fixed Asset Products list, the catalog of items procurable as Fixed Assets.
This is a filtered view of the Products catalog showing only items marked as Fixed Assets.
What the list shows
| Column | Description |
|---|---|
| Code | Product SKU |
| Name | Product description |
| Category | Asset category assigned to this product |
| Type | Tangible or Intangible |
| Useful life (mo) | Total depreciation period in months |
| Frequency | Depreciation frequency: Monthly, Quarterly, or Annual |
| Residual value | Estimated salvage value at end of useful life |
Fields on the detail page
General
| Field | Description |
|---|---|
| Code (SKU) | Product code; auto-generated if left blank |
| Name | Product name (required) |
| Description | Optional extended description |
Categorization
| Field | Description |
|---|---|
| Asset category | Links the product to an Asset Category, which pre-fills GL accounts on auto-created assets |
| Asset type | Tangible (physical equipment) or Intangible (software, licenses) |
Depreciation defaults
| Field | Description |
|---|---|
| Depreciation method | Currently Straight-line |
| Depreciation frequency | Monthly, Quarterly, or Annual |
| Useful life | Entered as years and months; stored internally as total months |
| Residual value | Salvage value at end of useful life (defaults to 0) |
Tips
- When a posted bill contains a Fixed Asset Product, one Fixed Asset record is created per unit of quantity on the bill line. A bill line for 3 units creates 3 separate asset records.
- Use the View Fixed Assets button on the product detail page to jump directly to the Fixed Assets list.
- Set up Asset Categories first so that the GL accounts are filled in automatically on every asset created from this product.
Related: Fixed Assets · Asset Categories · Vendor Bills · Products
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