Added new feature: Asset register

Overview

We have moved forward one step. Our software now tracks asset values and depreciation easily.

Asset register

Added Asset module (or “Asset Register”) to help the business track asset values, depreciation and disposal. Now the user will be able to calculate the depreciation schedule at any time and post the depreciation to Profit & Loss account with ease.

The asset register:

The asset detail:

By default, the system will create the common asset group. As a result, the user does not require any in-depth knowledge of account creation or the depreciation rate.

The depreciation value (to be posted to the Profit & Loss account) can be accessed easily. They just need to select a year to display the data on the screen.

Click on any asset group, it will drill down to the asset level.

At the top right corner, click on the three vertical dot icons and a popup will appear. Click on the “Post depreciation” option to post the depreciation to the Profit & Loss account by using a journal entry.

The user may key in the asset disposal as well. For example, if an asset has retired or is not functioning any more, these assets will have to be “disposed”.

The asset disposal entry screen is quite straightforward to use.

Summary

BitzButler helps you organize assets and calculate yearly depreciation efficiently.

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