Create a New Fixed Asset

To create a new fixed asset:

1. On the Codejig ERP Main menu, click the Fixed assets module, and then select Fixed assets.
A dashboard for the Fixed assets directory opens.
2. On the dashboard page, click + Add new.
You are taken to a page for entering fixed asset details.
Note: A new fixed asset is added to the system as an item with a Fixed asset type through the generic Item directory. 
3. Enter information about your fixed asset:
  • General information: item type (required), name, stock keeping unit, description, image, base unit of measurement.
Note: It is required to enter a name for the fixed asset, select for it the Fixed asset item type and specify a unit of measurement. Otherwise, you will not be able to save it. You cannot change the specified item type and defined base unit of measurement if the fixed asset is used in certain transactions.
  • Then, provide the following information in the Details section, under the following Details tabs:
Note: The Details section includes two types of tabs that are Details tabs and Reports tabs.

Details tabs are grouped and located on the left side of the section. You provide information about your fixed asset under the Details tabs.

Reports tabs are grouped and located on the right side of the section. You do not specify any fixed asset details under the reports tab. You use them only to generate reports regarding your fixed asset. Reports under these tabs provide analytical data about the fixed asset and are not available only for newly created fixed assets as there is no data to be processed by the reports yet.  
  • Accounting tab - configure accounts associated with the fixed asset that are required for: 1) fixed asset management after the purchase of the fixed asset, 2) accounting for the cost of the fixed asset and income generated during the sales process, 3) other specific operations, such as inventory adjustment, depreciation of fixed assets, etc. 
    When you create new fixed assets, accounts under the Accounting tab are auto-completed being retrieved from the My company settings. But, it is recommended to revise default accounts and change them to accounts that are more appropriate for the specific fixed asset. Specified accounts become fixed asset’s default accounts and will be used in documents and all fixed asset-related transactions. 
  • VAT tab - fill in fields under this tab in case it is planned to sell the fixed asset or derecognize it before the end of its useful life period. If reduced VAT rates are applicable to this fixed asset, select a specific reduced VAT rate for it. 
  • Codes tab - add fixed asset codes, such as EAN 13, QR Code.

4. Click Save.

It is not obligatory to provide all information under the Details tab immediately after creating a new fixed asset. You can fill in some details later on in the course of working with the system. You provide information under the Details tab to simplify and automate the creation of documents. 

The page of fixed asset records consists of the following sections: 

  • General area
  • Details section 
    • Details tabs 
      • Accounting tab
      • VAT tab
      • Codes tab
    • Reports tabs
      • List of transaction tab
      • Fixed asset tab
      • Stock tab
      • Prices tab
      • Charts tab
To be able to save the new fixed asset, you have to fill in the required fields which are marked with an asterisk (*) in General area and under the Accounting tab.
For more details about creating new fixed assets, see Create Items in Codejig ERP,  Item: General Area, Item: Details Section.
Adding new fixed assets to the system and defining their details is only the first step in the process of creating fixed assets. In order to complete the creation of a fixed asset, you have to recognize it.
For more details on recognition of fixed assets, see Recognition, Create New Recognition Document.

More information

Create a New Item
Create a New Recognition Document
Fixed Assets: Dashboard