Fixed Asset Settings

Configure the depreciation years, asset classes, and depreciation methods used to manage fixed assets. Go to Settings, Fixed assets to open these settings. The settings available to you depend on your security rights.

Depreciation Years — Create and manage the periods used to track depreciation activity. For details about adding and maintaining these periods, see Depreciation Years.

Asset Classes — Group similar assets and set defaults, such as depreciation methods and distribution accounts, to reduce repeated entry and keep asset records consistent. Learn how to create and manage asset classes.

Depreciation Methods — Control which depreciation methods are available when you create new assets and asset classes. In web view, new assets support Straight line and Do not depreciate. For details about managing available methods, see Depreciation Methods.

Note: Existing assets that use a method other than Straight line or Do not depreciate are view-only records.

Tips and Best Practices

• Review your security rights if a setting you need isn't available.

• Define depreciation years before posting fixed asset transactions. Each transaction must fall within a defined depreciation year. Learn how to manage depreciation years.

• Use asset classes to apply consistent depreciation and account defaults to similar assets. See how to create asset classes.

• Confirm which depreciation methods are available before creating assets. Existing assets that use other methods remain view-only.