{"schema":"exacc.help.page/1","url":"https://exacc.au/help/fixed-assets/","title":"Depreciate fixed assets","description":"Add a fixed asset in Exacc and let it post depreciation each month, prime cost or diminishing value; change its accounts or site, or dispose of it.","category":"Accounting","summary":"Open **Books › + Asset**, enter the **Asset Name**, **Start Depreciation on**, **Total price**, the **Depreciation base rate (%)** and method, and the expense and accumulated depreciation accounts. Exacc builds a monthly schedule. **Books › Assets** lists them; open one to dispose of it.","lastVerified":"2026-10-09","apps":["app"],"processIds":["manage_assets"],"start":{"label":"Open Assets","url":"https://app.exacc.au/{dbId}/books/assets"},"menuPath":["Books","Accounting","+ Asset"],"steps":[{"step":1,"title":"Add the asset","body":["Open **Books › + Asset** (or **Books › Assets** and **New Asset**):"],"url":"https://app.exacc.au/{dbId}/books/assets","fields":[{"name":"Asset Name","help":"e.g. Delivery van.","required":true},{"name":"Start Depreciation on","help":"the first month to depreciate; a part first month is pro-rated.","required":true},{"name":"Total price","help":"what the asset cost, excluding GST you can claim.","required":true},{"name":"Depreciation base rate (%)","help":"the yearly rate, e.g. 20 for five years prime cost.","required":true},{"name":"Method","help":"prime cost (the same amount each year) or diminishing value (a percentage of what is left; 200% of the base rate for assets from 10 May 2006).","required":true},{"name":"Debit (expense) account","help":"depreciation expense.","required":true},{"name":"Credit (acc depr) account","help":"accumulated depreciation.","required":true},{"name":"Site and Notes","help":"optional."}],"image":"https://exacc.au/help/fixed-assets/step-1.png"},{"step":2,"title":"Check the schedule","body":["Exacc posts depreciation monthly. The schedule on the asset shows each date, account, opening written-down value (OWDV) and amount."]},{"step":3,"title":"Change or dispose of it","body":["On the asset, **Update Expense Account** and **Update Site** change where future depreciation goes; **Dispose asset** records its sale or write-off. These are refused in a locked period."]}],"sections":[{"heading":"Check with your accountant","body":["Diminishing-value schedules beyond the first year are being checked; ask your accountant to confirm the figures before you rely on them for your tax return."]}],"related":["https://exacc.au/help/chart-of-accounts/","https://exacc.au/help/lock-accounting-period/","https://exacc.au/help/create-general-journal/"],"linkNote":"Links containing {dbId} open that screen in the business file whose id is dbId. A person can also open this help page with ?db=<dbId> to get the same links as buttons."}