Italian Fixed Assets

Fixed assets are properties owned by a company and used in the production of its income. Assets can be either tangible or intangible, and can be either durable or non-durable. Cars, machines, and furniture are examples of tangible assets. Startup costs and licenses are examples of intangible assets.

The following features have been added to the fixed assets functionality:

  • There are several types of depreciation available, including the following: anticipated, accelerated, and reduced.

  • Automatic creation of multiple fixed asset cards from an invoice.

  • A Depreciation Book report that displays depreciation by fixed asset type.

Anticipated depreciation allows companies to delay payment of taxes on assets by using an augmented depreciation rate for the first three years. This augmented depreciation rate must be a maximum of twice the normal depreciation rate. Thereafter, the depreciation rate is halved for the first year, and then doubled for the remaining two years. For subsequent years, the depreciation follows the standard pattern.

Accelerated depreciation allows companies that can prove that an asset’s use is more intensive than that of a standard asset to use a higher depreciation rate for this asset. Accelerated depreciation allows companies to shorten the period of an asset’s depreciation.

Reduced depreciation allows companies that can prove that an asset’s use is less intensive than that of a standard asset to use a lower depreciation rate for this asset, and recover the difference during the following fiscal years. Reduced depreciation allows companies to lengthen the period of an asset’s depreciation.

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