Fixed asset register in AccBooks AI

What is the fixed asset register?

The fixed asset register is a detailed list of every long-term asset owned by your business — computers, vehicles, machinery, furniture, leasehold improvements and more. For each asset, AccBooks tracks:

• Cost (or valuation) at date of acquisition
• Date of acquisition
• Depreciation method and rate
• Accumulated depreciation to date
• Net book value (cost minus accumulated depreciation)
• Tax pool assignment (for capital allowances)
• Disposal information (if sold or scrapped)

Adding a fixed asset

1. Go to Fixed assets → Add asset.
2. Enter:
   • Asset name — a clear description (e.g., “HP EliteBook 840 — serial AB123”)
   • Category — choose from Computer, Vehicle, Furniture, Plant & Machinery, Leasehold Improvement, etc.
   • Date of purchase — affects when depreciation starts
   • Cost — the purchase price including delivery and installation
   • Supplier — optional, useful for warranty tracking
   • Location — optional
   • Serial/reference number — optional
3. Set depreciation:
   • Method — Straight line, Reducing balance, or None
   • Rate/life — annual rate (%) or useful life (years)
4. Set the tax pool (Main pool, Special rate pool, Short life, etc.) for capital allowances purposes.
5. Click Save.

AccBooks creates the journal entries automatically:

• Debit: Fixed asset cost account (appropriate sub-account)
• Credit: Bank / creditors (depending on how the purchase was funded)

Asset categories and default depreciation

AccBooks comes with preset categories with sensible depreciation defaults:

Category	Default method	Default rate
Computers and IT	Reducing balance	33% per year
Vehicles	Reducing balance	25% per year
Office furniture	Straight line	10% per year
Plant & Machinery	Reducing balance	25% per year
Leasehold improvements	Straight line	Over lease term
Buildings	Straight line	2% per year

You can override the defaults for any individual asset.

Running depreciation

AccBooks can post depreciation automatically or on demand:

Automatic: Set up a depreciation schedule under Fixed assets → Settings → Auto-post depreciation. AccBooks posts the monthly depreciation journal on the last day of each month.

On demand: Go to Fixed assets → Post depreciation, select the period and click Post. Review the journal before confirming.

The depreciation journal:

• Debit: Depreciation charge (income statement, e.g., 7100)
• Credit: Accumulated depreciation (balance sheet, e.g., 0020)

Viewing the register

Go to Fixed assets → Register for a table of all assets showing:

• Net book value
• Total cost
• Accumulated depreciation
• Monthly depreciation charge
• Estimated remaining life

Filter by category, status (Active, Disposed, Fully depreciated) or location.

Depreciation reports

Go to Fixed assets → Reports to generate:

• Asset schedule — full register with movements for the period
• Capital allowances computation — for corporation tax
• Additions and disposals — just the changes in the period

Asset verification

At year-end, use Fixed assets → Asset check to verify the physical existence of assets on the register. You can print a checklist and tick off each item, uploading photos of assets to the AccBooks record.