The Fixed Assets Category screen allows you to manage and categorize your fixed assets effectively. This categorization is crucial for accurate accounting, depreciation, and asset tracking.

Key Components:

1. Category List:

   • Name: The name of the fixed asset category (e.g., "Servers"). This is the main identifier for the category.
   • Tax Type: The tax category applied to the assets in this category (e.g., GST 5%).
   • Units: The unit of measurement for the assets in this category (e.g., CM for cubic meters).
   • Type: The type of assets included in this category.
   • Sales Account: The general ledger account used for recording sales transactions involving assets in this category.
   • Asset Account: The general ledger account associated with the value of the assets in this category.
   • Depreciation Cost Account: The general ledger account used to record depreciation expenses for assets in this category.
   • Depreciation/Disposal Account: The general ledger account used for recording the depreciation or disposal of assets.
   • Assembly Account: The general ledger account used for the assembly or construction of assets in this category.

2. Add, Edit, Delete:

   • Add New: Click on the "Add new" button to create a new fixed asset category. You will be required to input the relevant details such as the name, tax type, accounts, and other necessary information.
   • Edit: Click the pencil (edit) icon next to an existing category to update its details. This feature allows you to make changes if the category's attributes or associated accounts need modification.
   • Delete: Click the red cross (delete) icon to remove an existing category. Please note that categories linked to active assets or transactions may not be deletable until those links are resolved.

3. Show also Inactive:

   • Checkbox: Check this box to display inactive asset categories. This is useful for reviewing old categories that are no longer in use but might be needed for reference or reactivation.

4. Usage:

   • Ensure that all fixed assets are categorized correctly for streamlined accounting processes, including depreciation and sales tracking.
   • Categories help in generating reports and ensuring that all asset-related transactions are accurately captured in the correct accounts.