Fixed Assets

Fixed Assets manages depreciation and amortization for assets, leases, loans, intangibles, and software — producing both GAAP and tax schedules and the journal entries to book them. Open it at /dashboard/analytics/amortization.

Choose a client

Fixed Assets is organized per client, so you'll first pick a client — or General for firm-wide assets. You can switch later with Change client.

The asset register

The list page is your asset register. At the top, an As of date controls the point in time the figures are calculated for, and summary cards (total cost basis, net book value, period expense, active count) update to "As of" that date. The table shows each asset's type, cost basis, accumulated depreciation, net book value, GAAP and tax methods, and status (Active, Disposed, Fully Depreciated, or Impaired).

From here you can also open Reports, Bulk upload, and Journal entries (covered below).

Add an asset

Click New asset to open the form. You can fill it in two ways:

• By hand — type the details directly.
• From a document — click Upload document and the AI extracts the asset's details (name, cost, dates, method, lease terms, and more) and pre-fills the form. Review the prefilled fields, since extraction can occasionally need a correction.

Core fields

• Asset name and Asset type — choose from Fixed Assets, Lease – Operating, Lease – Finance, Loan Amortization, Intangible Assets, or Software Costs. The form reveals extra fields based on the type you pick.
• Cost basis, salvage value, useful life, and start date.
• GAAP method and Tax method — choose a book method and a tax method. Selecting MACRS as the tax method reveals MACRS property class, system, and convention, and adds a separate tax schedule.

Type-specific fields

• Leases (ASC 842) — classification (Operating / Finance), payment amount, payment frequency (Monthly, Quarterly, Semi-Annually, Annually), payment timing (Beginning/End of Period), incremental borrowing rate, and lease incentives.
• Loans — principal, interest rate, rate type (Fixed/Variable), and term.
• Intangibles / Software — life type, legal life, and software stage.
• Tax elections (where applicable) — Section 179, bonus depreciation, listed property, and business-use percentage.

Schedule, compliance, and saving

• Click Generate to compute the schedule. The preview shows the GAAP schedule and, when a tax method like MACRS applies, the MACRS tax schedule alongside it, plus a Journal entries tab.
• Click Compliance check for an AI compliance insight — a short, ASC-cited note on whether your setup looks right.
• Click Save asset (or Save changes when editing) to add it to the register.

Journal entries

The Journal entries view lets you pick a period and book that period's depreciation/amortization for your assets. Saved entries are listed for reference and export.

Disposing an asset

To retire an asset, use its Dispose action to open the Dispose asset dialog. Enter the disposal date and proceeds; the suite computes the gain or loss against book value, marks the asset Disposed, and appends a disposal journal entry.

Bulk upload and reports

• Bulk upload imports many assets at once from a CSV/Excel template (up to 5,000 rows). Click Download Template to get the exact columns, or Use Demo Data to see a populated example.
• Reports exports consolidated schedules and registers across the assets in view.

Tip: Not sure which method or election applies? Ask the AI Assistant from the Fixed Assets screen, or consult the GAAP & IRS researchers for cited guidance.