Fixed Asset Group
In order to simplify your work with the Fixed asset module and fixed assets in general, the Codejig ERP offers the Fixed asset groups directory.
When creating a new group, you set depreciation parameters for all fixed assets that will be added to this group later on. As a general rule, fixed assets are grouped depending on their purpose, although such characteristics as the cost of a fixed asset or its belonging to luxury items are considered too.
Tax authorities may impose their own regulations regarding the grouping of fixed assets and define depreciation periods for specific fixed asset groups.
Adding a fixed asset to a certain group gives the opportunity to promptly assign depreciation parameters to the fixed asset, the same parameters that were chosen for the rest of fixed assets in the group, namely: method of depreciation, useful life and accounts for recording the fixed asset cost, fixed asset depreciation and depreciation expenses.
To go to the Fixed assets group
- On the Codejig ERP Main menu, click the Fixed assets tab.
- Under the Fixed assets tab, click Fixed assets group.
Straight Line Depreciation Method