BizBox Fixed Assets

Build your Asset intuitively. Helpful prompts like rates and useful life supplied automatically. Choose a category, depreciation type and cash or credit purchase. A new asset has a supplier invoice created automatically with the corresponding general ledger entries. Then it uses the method of depreciation (Straight line, Diminishing value or sum of digits) to create the general ledger standing journals which are activated on month end. This is done on a yearly or monthly basis. You build a depreciation history as well as a general ledger history all the while automatically adjusting the book value of the asset. The asset retirement report lists the assets that are approaching the salvage value, allowing you to make a decision on whether to scrap or sell the asset. With a single click the asset can be disposed of as the system prepares the final general ledger entries and the asset is retired. Asset Management at your fingertips.