Features
Fixed assets, from purchase to disposal
SwiftlyBooks keeps a register of your fixed assets, filled from the bills that buy them. Each month's depreciation posts in one run, a sale or write-off posts its gain or loss, and the capital allowances your tax return needs are worked out beside the books.
- Assets from approved bills and expenses: a line to an asset account waits to be checked, then joins the register.
- Straight line over a life, or reducing balance at a rate, with a residual value. Land is not depreciated.
- Depreciation run by your accountant each month in one click, one entry per branch, or posted by itself if you choose. The last run can be undone while its month is open.
- Selling an asset drafts its invoice, and approving it posts the gain or loss.
- Capital allowances by tax year, at your country's rates, with recoupments and balancing charges when an asset goes. Kept beside the books, never posted.
- The register at any day, agreed with its accounts; the year's movements for the notes; and depreciation still to come.
| The truck | |
|---|---|
| Cost | $36,000.00 |
| Residual value | $6,000.00 |
| Depreciated over | 60 months |
| Depreciation each month | $500.00 |
Common questions
Does depreciation post by itself?
By default your accountant runs it each month, in one click. Settings can have it post by itself once each month ends.
Are capital allowances posted to the books?
No. They are worked out beside the books for the tax return, by tax year, and never posted.
Can an asset bought on one bill be split?
Yes. Ten laptops on one bill line can join the register as ten assets.
How do I start?
Switch fixed assets on in Settings. Every plan includes them.