Fixed assets
A fixed-asset register with depreciation worked out to the paise
Keep a fixed-asset register and compute correct depreciation — straight-line (SLM) or written-down-value (WDV) — with a month-by-month schedule, accumulated depreciation and net book value per asset.
What it solves
Depreciation is where hand-kept books quietly go wrong: a full month charged for an asset bought on the 20th, a straight-line schedule that doesn't foot, a reducing-balance asset written below its scrap value. Finocket keeps a proper asset register and works the depreciation out for you — pro-rated from the day each asset was put to use, floored at its salvage value, and reconciled so a straight-line schedule sums to the depreciable base exactly.
How we're different
The maths is pinned by golden tests to the paise and runs in integer paise, so there's no rounding drift: the first part-month is pro-rated by days, the salvage floor is never breached, and the rounding residual lands on the final period so the schedule foots. Migrating an asset mid-life? Enter the accumulated depreciation already taken and the schedule continues from the right book value.
Inside Fixed assets
SLM and WDV, computed correctly
Pro-rata from put-to-use
Salvage floor, exact footing
Fixed assets
Salvage floor, exact footing
Dispose and migrate
Fixed assets
Dispose and migrate
Fixed assets
Salvage floor, exact footing
Fixed assets
Dispose and migrate
Works with the rest of Finocket
Part of Double-entry books. See how every module connects.
Questions
Which depreciation methods are supported?
Both straight-line (SLM), based on a useful life in months, and written-down-value (WDV), based on an annual reducing-balance rate. Each asset picks its own method.
Is the first month pro-rated?
Yes — depreciation starts from the put-to-use date (falling back to the purchase date) and the first part-month is pro-rated by days, so an asset bought mid-month isn't charged a full month.
Can I migrate an asset that's already part-depreciated?
Yes. Enter the accumulated depreciation taken so far and the schedule continues from the correct opening book value rather than from cost.
Learn how it works
Fixed assets & depreciation
Keep a fixed-asset register and let Finocket compute depreciation — SLM or WDV, to the paise, day-pro-rated from the day each asset was put to use. Posting writes a balanced Dr Depreciation / Cr Accumulated voucher, idempotent per asset and period, with gain or loss on disposal.
Budgets & ratio analysis
Read your books like an analyst: standard financial ratios (profitability, liquidity, leverage, efficiency) and a budget-vs-actual comparison, both from your double-entry books.
Scheduled report emails
Put any report on autopilot: email Receivables ageing, Payables ageing or Financial ratios as a PDF or CSV on a daily, weekly or monthly schedule — the same numbers you see on screen, delivered to your inbox.
Ready to ditch the spreadsheet?
Free for solo users. No credit card. Your books stay yours.