The Fixed assets module assists you in creating, managing and depreciating your fixed assets. The Fixed assets module can be found within the various additional modules.
Does the asset list integrate with the other accounts?
Yes, it does. In "Asset groups" you are able to view a complete summary of which accounts a specific asset connects to.
Am I able to enter full depreciations for the first year despite a few invoices arriving later in the year?
Yes, you are. After entering the asset in the asset list, simply enter the 1st of January as your “Start date”.
How are first month depreciations calculated?
They are calculated in proportion to the amount of days left in the month from the start date specified. So if you wish, for example, to depreciate a full month for an asset bought in the middle of the month, you simply enter the first day of the month as your beginning date.
Am I able to depreciate everything at once?
Yes, you are. Just go to the settings menu and click on “Accounting years”. Then click the “Periods” icon for the accounting year you're looking for, and finally click the "Depreciate" icon for all of the periods that you would like to depreciate.
Am I able to import external asset lists?
Yes, you are able to import you external asset lists.
Am I able to depreciate according to both the “straight-line method” and the “diminishing-balance method”?
No, you are only able to perform straight-line depreciations because reduction of balance depreciations and depreciation for tax purposes are not supported by E-conomic.
Am I able to make adjustments to my asset list?
You are always able to make an addition to a fixed asset, but if you would like to reduce the asset you have to “sell” the asset first and then reenter the part of the asset that you would like to keep. Actual revaluations and write-downs are not supported by E-conomic.
Am I able to export the actual status of the asset list for year end reporting purposes?
Yes, you are. Simply click on the given "Fixed assets" report and then click the "Show in Excel" icon.