Fixed assets are items of value owned by an individual or corporation, such as buildings, vehicles, land, and equipment. Fixed assets can be converted to cash.

You can set up and enter acquisition information for asset records, and then manage your assets by depreciating them, calculating adjustments, and also disposing of them.

When you use General ledger with Fixed assets, you can view the current value of all assets. Some features of Fixed assets are county-specific. You can use Fixed assets with Accounts receivable, Accounts payable, and Inventory management.

In addition, the way fixed assets are handled must correspond to both international accounting standards and accounting legislation in each country/region. Requirements might include rules for recording acquisition and disposal transactions, depreciation, lifetime, write-ups, and write-downs of fixed assets. The fixed asset functionality incorporates many of these standards and rules.

Refer to the following fixed asset topics to use fixed assets.