Fixed & Intangible Assets

Concepts

Basis uses a single unified register for both Fixed Assets (PPE — property, plant & equipment) and Intangible Assets (software, patents, goodwill, trademarks). Both use straight-line depreciation/amortization.

Term	Definition
Acquisition Cost	The full cost to bring the asset into service (purchase price + installation + freight, etc.).
Salvage Value	Estimated residual value at end of useful life. Intangibles are typically 0.
Useful Life	Total months the asset will be depreciated. E.g. 5 years = 60 months.
Monthly Depreciation	`(Acquisition Cost − Salvage Value) ÷ Useful Life (months)`
Accumulated Depreciation	Sum of all posted depreciation entries. Shown as a contra-asset on the Balance Sheet.
Net Book Value (NBV)	Acquisition Cost − Accumulated Depreciation.
Period	One calendar month (always the 1st of the month internally).

FA vs IA — same treatment, different accounts. The only difference between Fixed Assets and Intangible Assets in Basis is the GL accounts used. The form automatically filters account dropdowns to show Fixed Asset sub-type accounts for FA and Intangible Asset sub-type accounts for IA. Labels also change ("Depreciation" for FA, "Amortization" for IA).

Required GL Accounts

Each asset requires three GL accounts. Set these up in your Chart of Accounts before registering assets.

Account	Normal Balance	Sub-Type (FA)	Sub-Type (IA)	Example Name
Asset Account	Debit	Fixed Asset	Intangible Asset	Property, Plant & Equipment / Software
Accum. Depreciation	Credit (contra)	Other Asset	Other Asset	Accumulated Depreciation — Vehicles
Depreciation Expense	Debit	Operating Expense	Operating Expense	Depreciation Expense / Amortization Expense

When depreciation is posted, Basis creates a Journal Entry:

AccountDebitCredit

Depreciation ExpenseIDR X,XXX—

Accumulated Depreciation—IDR X,XXX

One batch voucher is created per "Post All" click covering all assets with unposted depreciation in that period.

Registering an Asset

Go to Fixed Assets → Asset Register, then click Add Asset.

Asset Information

Field	Status	Notes
Asset Code	Required	Unique identifier. Read-only after save. Example: `FA-001`, `IA-SW-01`.
Asset Type	Required	Fixed Asset (PPE) or Intangible Asset. Determines which GL account sub-types are shown.
Asset Name	Required	Descriptive name, e.g. "Company Vehicle — Toyota Avanza B 1234 XY".
Description	Optional	Additional notes — serial number, location, purchase reference, etc.

Acquisition & Depreciation

Field	Status	Notes
Acquisition Date	Required	Date the asset was put in service. Determines the first depreciation period.
Acquisition Cost	Required	Full cost in base currency. Read-only once depreciation has been posted.
Salvage Value	Optional	Residual value at end of life. Leave 0 for intangibles. Must be less than Acquisition Cost.
Useful Life (months)	Required	E.g. 60 for a 5-year asset. Shown as years in the summary. Read-only once depreciation posted.

A preview below the form shows the computed Monthly Depreciation as you type.

GL Accounts

Field	Notes
Asset Account	The balance sheet account where the asset's cost is recorded (sub-type: Fixed Asset or Intangible Asset).
Accumulated Depreciation Account	Contra-asset account. Grows with each posted period (sub-type: Other Asset).
Depreciation Expense Account	P&L expense account charged each period (sub-type: Operating Expense or Other Expense).

Note: Acquisition Cost and Useful Life become read-only once at least one depreciation period has been posted. To correct these values on an existing asset, you must first delete all depreciation vouchers (from the Journal Entries list) and the depreciation records in the asset's schedule.

Viewing the Depreciation Schedule

Click any asset in the list to open its Detail page. The full depreciation schedule is shown at the bottom — one row per month for the entire useful life.

docs/fixed-assets-detail.png

Column	Meaning
#	Period number (1 = first month of useful life).
Period	Month and year (e.g. "Apr 2025").
Opening NBV	Net book value at start of the period.
Depreciation	Amount charged this period (constant for straight-line).
Closing NBV	Opening NBV − Depreciation.
Status	Posted — JE created. Pending — next period due. — future period.
Voucher	Link to the Journal Entry voucher in which this period was posted.

Depreciation Worksheet & Posting

Go to Fixed Assets → Depreciation Worksheet to run monthly depreciation for all assets in one step.

Select the Period (month/year) you want to post.
Click Load. The worksheet shows all active assets with their current NBV and the depreciation amount due this period.
Review the summary cards: Not Yet Posted count and Depreciation This Period total.
Click Post All to create a single batch Journal Entry covering all unposted assets.
The Voucher column updates with a link to the created JE. Assets that reach NBV = Salvage Value are automatically marked Fully Depreciated.

Tip: Run the worksheet once per month, typically on the last day of the period. Basis does not auto-post depreciation — it requires an explicit human action.

What happens during "Post All"

One Journal Entry voucher is created containing Dr/Cr pairs for every unposted asset in that period.
Each FixedAssetDepreciation record is stamped with the voucher ID and PostedAt timestamp.
Assets whose NBV hits the salvage value are automatically set to Fully Depreciated status.
The batch voucher appears in Journals and is included in all reports (P&L, Balance Sheet, Trial Balance).
If the period is locked, posting is blocked — unlock the period first.

Opening Balance — Existing Assets

If your business already owns assets with accumulated depreciation before you start using Basis, you have two options:

Option A — Register with original acquisition date (recommended)

This is the preferred method when the asset history is not too old (e.g. 1–2 years).

Register the asset with its original Acquisition Date and original Acquisition Cost as described above.
Go to the Depreciation Worksheet. Set the period to the first month the asset was put in service and click Post All. Then advance month by month until you reach the current period.
Each monthly post creates a Journal Entry that builds up the accumulated depreciation balance correctly in the GL.
The asset detail page will show the correct NBV after all historical periods are posted.

This option gives you a complete, auditable history. If there are many assets, post several months at once — the worksheet handles all active assets per period.

Option B — Enter at current NBV (for old assets with long history)

Use this when retroactively posting 5+ years of history is impractical.

Create a manual Journal Entry to record the opening balance of accumulated depreciation as of your go-live date:

AccountDebitCredit

Opening Balance EquityIDR X,XXX—

Accumulated Depreciation — [Asset]—IDR X,XXX

Use the accumulated depreciation amount as of your opening date. Narrate it as "Opening balance — accumulated depreciation [Asset Code]".
Register the asset with Acquisition Date = your go-live month and Acquisition Cost = current NBV (not the original cost). Set Salvage Value = 0 and Useful Life = remaining months.
From now on, run the Depreciation Worksheet monthly as normal. Each post adds the remaining monthly depreciation to both the GL and the asset register.

Trade-off: Option B is simpler but the asset's historical depreciation schedule in Basis will not reflect the full useful life — only the remaining period from go-live. Option A is more complete but requires more initial setup time.

Asset Disposal

When an asset is sold, scrapped, or written off, the asset register needs to be updated and a Journal Entry must be created to remove the asset from the books.

Steps

Post any remaining depreciation up to the disposal month via the Depreciation Worksheet, so accumulated depreciation is current.
Create a manual Journal Entry to derecognize the asset:

AccountDebitCredit

Accumulated DepreciationAccum. amount—

Cash / Bank (if sold)Sale proceeds—

Loss on Disposal (if any)Balancing—

Asset Account (cost)—Original cost

Gain on Disposal (if any)—Balancing
Edit the asset in Basis and set its status to Disposed. A disposed asset no longer appears in the Depreciation Worksheet.

FAQ

Can I edit an asset's cost or useful life after posting depreciation?

No. Acquisition Cost and Useful Life become read-only once any depreciation has been posted. This protects the integrity of already-created Journal Entry vouchers. If a correction is genuinely needed, delete the depreciation JE vouchers via Journals, which will reset the posted periods, then edit the asset and re-post.

What if I forget to post depreciation for a month?

Simply go to the Depreciation Worksheet, select the missed month, and click Post All. You can post periods out of order or catch up multiple months sequentially. Each period creates its own batch voucher.

Can I post depreciation for part of a month (pro-rata)?

Not directly — Basis uses full-month straight-line. For assets acquired mid-month, a common practice is to start depreciation from the first day of the following month and set the Acquisition Date to the first of that month.

Does Basis support declining balance or units-of-production methods?

Not in the current version. Only straight-line is supported. Sum-of-digits and other methods are on the roadmap.

Can one asset have different depreciation rates per period?

No. The monthly amount is fixed at (Cost − Salvage) ÷ Life and is the same for every period.

Where does posted depreciation appear in reports?

The batch Journal Entry posts to standard GL accounts, so it flows through automatically:

Profit & Loss — Depreciation Expense appears in the period it was posted.
Balance Sheet — Asset Account (debit) and Accumulated Depreciation (credit) both appear under non-current assets, showing the current NBV.
Trial Balance — Both accounts appear with their running balances.
General Ledger — Each posting appears as a line in the GL report for the relevant accounts.