Fixed Assets

The fixed assets module lets you maintain a detailed registry of your company's long-term property. From /finance/accounting/fixed-assets you can register assets, configure depreciation methods, and check the current value of each item.

Main View

The screen displays a table with all registered assets, including:

  • Asset name and description
  • Category (furniture, computer equipment, vehicles, etc.)
  • Acquisition date
  • Original cost
  • Accumulated depreciation
  • Current book value

Registering a Fixed Asset

1

Create new asset

Click New Asset and enter the descriptive name and corresponding category.

2

Acquisition data

Record the purchase date, acquisition cost, and supplier (optional). You can link to a supplier from your supplier directory.

3

Configure depreciation

Define the useful life in months or years, estimated salvage value, and the applicable depreciation method.

4

Assign accounting accounts

Select the asset account and accumulated depreciation account from the chart of accounts.

Depreciation Methods

Fenicia supports the following calculation methods:

MethodDescription
Straight-lineUniform depreciation over useful life
Double declining balanceHigher depreciation in early years
Units of productionBased on actual asset usage

Tip

Straight-line is the most commonly used method for tax purposes in Mexico. Consult your accountant before choosing another method.

Depreciation Schedule

Each asset automatically generates a depreciation schedule showing:

  • Projected monthly or annual depreciation
  • Accumulated depreciation per period
  • Book value at the close of each period

The system calculates these values based on the formula:

Periodic depreciation = (Cost - Salvage value) / Useful life

Journal entry generation

At the close of each fiscal period, you can automatically generate depreciation journal entries for all active assets.

Asset Categories

Configure categories to group your assets and apply default depreciation rules:

  • Office furniture and equipment — Useful life: 10 years
  • Computer equipment — Useful life: 3 years
  • Transportation equipment — Useful life: 4 years
  • Machinery — Useful life: 10 years
  • Buildings — Useful life: 20 years

You can create custom categories with the useful life and method that best fit your operations.

Asset Disposal

When an asset is sold, scrapped, or retired, record it as a disposal. The system will calculate the gain or loss based on the book value at the time of disposal.