Fixed asset register and depreciation, prepared monthly
Fixed asset schedules often sit outside the ERP, which means additions, disposals, and depreciation get keyed in by hand and tied out at month end. Working from your source data, the Accounting Agent picks up additions, rolls the register forward, calculates depreciation asset by asset, and drafts the monthly entry.
What the Accounting Agent prepares
- A fixed asset roll-forward by class, for cost and accumulated depreciation, from opening to closing balance
- Additions picked up from capitalized bills and entries, with in-service dates and useful lives you confirm
- Depreciation calculated per asset using your methods and conventions
- Disposals recorded with the gain or loss calculation
- A drafted monthly depreciation entry, with the register tied to the GL
How it works
- Pull the data. The Accounting Agent pulls capitalized bills, fixed asset accounts, and your current register.
- Prepare the work in your logic and format. It rolls the register forward in your structure, applies each asset's method and useful life, and calculates the period's depreciation.
- Review and approve. You confirm additions and disposals, review the entry, and approve. The depreciation entry posts to your ERP after you approve it.
What stays in your control
- Capitalization policy, useful lives, and methods are set by your team
- Additions and disposals are confirmed by a person before the entry is approved and posts
- Every asset links to the bill or entry that created it
Standard note
ASC 360 covers property, plant and equipment, including how an asset's cost is depreciated over its useful life.
FAQ
Can depreciation be calculated automatically each month?
Yes. The Accounting Agent applies each asset's method, useful life, and convention to the register, calculates the period's depreciation, and drafts the entry for review.
Do we need to move off our current fixed asset spreadsheet?
No. You can upload the register you use today, and the Accounting Agent rebuilds it in the same structure with live formulas.
Who decides useful lives and what gets capitalized?
Your team does. The Accounting Agent applies the policies you set and surfaces any item your rules cannot classify, so a person makes the call.
