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Fixed assets can be managed easily when you enable the feature and record each asset’s details and value updates properly. See how it works:

Step 1: Enable Fixed Assets
Go to Settings → General Settings and turn ON the Fixed Assets option. This activates the feature so you can start adding assets.

Step 2: Open the Fixed Assets Menu
After enabling it, check the left menu under Cash & Bank. You will now find the Fixed Assets section, where all asset-related actions are handled.

Step 3: Add Your Assets
Click Add Asset and enter details like asset name, unique item code, HSN code, quantity, price per unit, and purchase date. Save the entry or use Save & New to add more.

Step 4: Apply Depreciation or Appreciation
Select any asset and use the Depreciate or Appreciate buttons to update its value. For example, if an asset loses ₹1000 in value, record it through depreciation.

Step 5: Record Purchase or Sale of Assets
Use Purchase Asset or Sell Asset to record buying or selling activities. Fill in buyer details, invoice number, and asset info. Fixed-asset invoices follow a separate series from normal sales.

Step 6: View Transactions and Report Impact
Open any asset to see all its transactions in one place. These entries automatically reflect in your Profit & Loss and Balance Sheet reports.

These steps help you maintain clear and accurate fixed asset records, from purchase to value updates and final sale.

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