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.
The screen displays a table with all registered assets, including:
Click New Asset and enter the descriptive name and corresponding category.
Record the purchase date, acquisition cost, and supplier (optional). You can link to a supplier from your supplier directory.
Define the useful life in months or years, estimated salvage value, and the applicable depreciation method.
Select the asset account and accumulated depreciation account from the chart of accounts.
Fenicia supports the following calculation methods:
| Method | Description |
|---|---|
| Straight-line | Uniform depreciation over useful life |
| Double declining balance | Higher depreciation in early years |
| Units of production | Based 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.
Each asset automatically generates a depreciation schedule showing:
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.
Configure categories to group your assets and apply default depreciation rules:
You can create custom categories with the useful life and method that best fit your operations.
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.