Fixed Assets Classes

This functionality is used to define a Parent Class (Main Heading) under which fixed assets will be categorized, it is also used to define a Basic Depreciation Rate for all underlying assets.

In order to add a new fixed assets class, the following steps are required:

  • Click on Fixed Assets Classes tab, under the Maintenance section in the Fixed Assets Module.
  • Enter the Parent Class
  • Enter the Fixed Asset Class
  • Enter the relevant description
  • Select the Basic Depreciation rate applicable.

The final step is by clicking on the Add New button

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