Guides, articles and product updates on fixed asset management, depreciation, verification, audit and asset intelligence.
Indian companies depreciate the same asset at least twice: once under Schedule II and once under the Income-tax Act. Groups reporting abroad add a third. Here is how depreciation books work in FixedAsset Pro, and what each one is for.
Since 1 April 2023, companies keeping books in accounting software must use software with an audit trail that cannot be disabled, and auditors report on it under Rule 11(g). What that means for the system that holds your fixed assets.
Read moreCWIP is where cost waits until an asset is ready for use. Too long there and the Schedule III ageing exposes it; too short and depreciation starts on an asset that is not ready. How to manage CWIP through the year.
Read moreA transfer looks like a change of location in the register. Depending on where the asset goes, it can also be a GST supply, a disposal by one company and an acquisition by another, and a gap in your verification. A practical guide.
Read moreYou do not have to test every asset for impairment every year, but you do have to look for indicators at every reporting date. How to run that review, document it, and recognise when a full test is needed.
Read moreThe fixed asset note is more than a roll-forward. Since the 2021 amendments, Schedule III also asks about title deeds, registered valuers, CWIP ageing and benami proceedings. A walk through what goes in, and where the data comes from.
Read moreLaptops and chairs are easy. Hot machines, sterilised equipment, vehicles, moulds at a vendor's site and land are not. A practical, asset-by-asset guide to tagging and verifying what does not take a sticker well.
Read moreA prepared-by-client list for property, plant and equipment, organised by the questions the auditor is trying to answer: does it exist, is it complete, do you own it, and is it valued and presented correctly.
Read moreThe old ₹5,000 write-off rule disappeared with Schedule XIV. Here is what replaced it in the books, why the Income-tax and GST answers differ, and how to keep control of items you expense.
Read moreSchedule II and Ind AS 16 both require significant parts with different lives to be depreciated separately. The hard part is the judgement: which parts, at what cost, and what happens when one is replaced.
Read moreFree downloads and printable checklists first, then the forms built into the product, each explained on its feature page.
Quick start, user guides, troubleshooting and the admin guide live in the help centre.
