Asset bills

Fixed assets (vehicles, machines, computers, furniture, buildings) are bought with an asset bill, just like a purchase bill: on credit from a supplier, with a due date, and paid later with asset payments. Approving the bill creates the fixed assets, ready for depreciation.

Go to Assets › Asset Bills and click Add.

Creating an asset bill

1. Choose the Supplier Name, Bill Date, Due Date, Reference, Currency and Project Name. In another currency than the base one, each asset amount and the total show their base-currency value under them, and changing the currency converts the assets already added (purchase price and salvage value keep their base value; changing only the rate keeps the amounts) - see Currencies.

2. Add each asset with Add Asset:

   Field	Notes
   Name	For example Toyota Hilux 2026
   Category	From Assets › Category of Assets
   Asset on	The asset account in the chart of accounts (for example Vehicles)
   Quantity and Purchase Price	Must be greater than zero; Amount = quantity × price
   Location	Where the asset is
   Useful Life (Years)	At least 1 year
   Salvage Value	What it will be worth at the end; between 0 and its amount
   Depreciation Method and Depreciation Rate	Straight Line Method (rate 0) or Declining Balance Method (rate above 0, for example 2 for double-declining). See Depreciation.
   Disposal Date, Narration, Image	Optional

3. Add Notes, then Save as Draft or Save and Approve.

To add many asset bills at once, use Import asset bills.

What approving does

• Each asset line becomes a fixed asset in Assets › Fixed Assets.
• Posts Dr each asset account / Cr accounts payable for the bill total.
• The bill appears in the supplier's balance and in Open Bills and Aged Payables.

Approving needs the approve permission for asset bills.

Editing and deleting

• Only a draft asset bill can be approved; an approved bill can be edited or deleted with permission.
• A bill with payments can't be deleted: "This asset bill has payments. Delete its payments first."
• A bill whose assets have depreciation can't be changed: "Assets on this bill have depreciation. Delete their depreciation first."

Asset categories

Assets › Category of Assets groups your assets (Vehicles, IT equipment...). New companies start with Land, Buildings, Machinery and Equipment, Vehicles, Furniture and Fixtures, Computers and IT Equipment, Office Equipment and Software; rename, add or delete them. A category used by assets can't be deleted.

Next: Depreciation.