In hibooks, there are two ways to add any fixed assets : bills and transactions. You can add as many as you want and complete their information. Learn how to Manage Fixed Assets and how to Dispose of a Fixed Asset.
How do I Add a Fixed Asset using a Bill ?
Select Accounting from the side bar menu and then Fixed Assets from the drop-down menu.
Click on Add New and then Bill.
Contact Information
Contact : select the contact that supplied you the goods. You can create a new contact by clicking on Add Contact. Learn how to create a contact here.
Category : pick the right category of the asset.
Purchase Date : the date that the asset was purchased.
Due Date : the date the bill is due to be paid.
Document Number : the system automatically provides you with one but you can change it if you wish to as long as it is not already used.
Terms : the terms on when payment is due. Selecting 30 days means the bill payment is due in 30 days.
Currency : the base currency is by default the one you chose when you created the business in hibooks, but you can select any currency in the world available for your bill.
Tags : you can associate your new bill to tags created in the system.
Item
Description : enter a description for the item. You can choose from an item you created in Items and Products.
Account : select the right account for your new asset. If you wish to create a new one, click on Add Account.
Unit Cost : the cost of the individual product.
Quantity : the number of that asset bought.
VAT Rate : select the correct VAT rate for the asset.
Depreciation Details
If you are not sure about how to complete the Depreciation details, then contact your accountant.
Averaging Method : choose if the method is for the full year, per month, or day by day.
Depreciation Method : choose if the depreciation method is equal or more at the beginning.
Depreciation Start Date : the start date that the business is using the asset.
Useful Life in Years : the length of time that the asset is useful to the business, for example a computer will last for 3 years.
Files
Files : by clicking on this button you can attach files from your device which you want to link to the asset.
When you have finished, click on Save.
How do I Add an Asset using a Transaction ?
Select Accounting from the side bar menu and then Fixed Assets from the drop-down menu.
Click on Add New and then Transaction.
Asset Information
Bank Account : select the bank account for the transaction.
Category : pick the right category of the transaction
Purchase Date : the date of the transaction.
Document Number : the system automatically provides you with one but you can change it if you wish to as long as it is not already used.
Net Amount : this will be calculated automatically.
Currency : the base currency is by default the one you chose when you created the business in hibooks, but you can select any currency in the world available for your transaction.
Total Amount : enter the total amount of the transaction.
VAT Rate : enter the VAT Rate of the transaction.
VAT Amount : this will be calculated automatically.
Description : give a description to identify the asset.
Tags : you can associate your new transaction to tags created in the system.
Depreciation Details
Averaging Method : choose if the method is for the full year, per month, or day by day.
Depreciation Method : choose if the depreciation method is equal or more at the beginning.
Depreciation Start Date : the start date that the business is using the asset.
Useful Life in Years : the length of time that the asset is useful to the business, for example a computer will last for 3 years.
Files
Attach files : by clicking on this button you can attach files from your device which you want to link to the asset.
When you have finished, click on Save.
