Fixed Assets
Adding assets to the register
Create an asset record, set its cost, useful life, and assign it to a branch.
4 min read
The asset register tracks every fixed asset the business owns — vehicles, equipment, furniture, computers, and property. Each asset has a cost, accumulated depreciation, and a net book value maintained automatically.
- 1Go to Fixed Assets → Asset Register and click New Asset.
- 2Enter the asset name, reference number, and purchase date.
- 3Enter the purchase cost and select the asset category (which determines the depreciation method and GL accounts).
- 4Assign the asset to a branch.
- 5Post the asset. MSME Link creates a journal debiting the Fixed Asset account and crediting Cash or Payable.
If you are migrating existing assets, set the opening accumulated depreciation to correctly reflect the net book value as at your go-live date.