Create Fixed Assets

To create a fixed asset:

Go to Accounting on the left sidebar.
Select Fixed Assets in the module bar.
Click + New Fixed Asset in the top right corner of the page.
Enter the required details.

Fields	Description
Name	Enter the name of the fixed asset.
Fixed Asset #	The fixed asset number will be auto-populated. You can also click the Gear icon to enter the fixed asset number manually.
Disposal Value	Enter the remaining amount of the asset after its useful life or the value after it’s fully depreciated.
Purchase Date	Select the date on which the asset was purchased.
Purchase Price	Enter the price at which you purchased the asset.
Current Value	Enter the current price of the fixed asset. Note that the current value is the price at which depreciation begins for the fixed asset.
Fixed Asset Type	If you have multiple fixed assets that belong to the same category or follow a similar depreciation pattern, you can create a fixed asset type and associate the fixed assets with the respective type. Note that if you’ve already created a fixed asset type, the respective depreciation and account details of the fixed asset will be auto-populated. You can also change these details if required.
Warranty Expires On	Select the warranty expiration date for the asset.
Fixed Asset Account	Select the account to track the fixed asset.
Notes	Provide notes for the fixed asset you create for internal use.
Reporting Tag	Associate reporting tags to the fixed assets you create.
Serial Number	Enter the serial number for the fixed asset for internal use.

Click Save as Draft.

The fixed asset is now created in Draft status, and you can view it in the Draft Assets tab of the Fixed Assets module.

Create Fixed Assets From Other Sources

Import Fixed Assets

To import fixed assets into Zoho ERP:

Go to Accounting on the left sidebar.
Select Fixed Assets in the module bar.
Click the More icon in the top right corner and select Import Fixed Assets.
Click Choose File and upload the required file. You can download a sample file for your reference.
Check the option Auto-generate Fixed Asset Numbers if you want to generate new fixed asset numbers replacing the ones already present in the import file.
Click Next.
In the Map Fields page, check if all the fields are correctly mapped with the headers of the import file.
Check the option Save these selections for use during future imports if you want to use the same field mapping again.
Click Next.
In the Preview page, click Import.

The fixed assets will be imported into your Zoho ERP organization.

Note: If you’re importing active fixed assets with past depreciation entries, it may take a while to import all the previous depreciation records for the asset.

Insight: If you’re importing a fixed asset for which depreciation started before the migration date of your Zoho ERP organization, you can sync those depreciation entries once they are imported into Zoho ERP. To do this, go to Settings > Organization > Opening Balances > Sync.

Create Fixed Assets from Bills

You can create fixed assets from bills by associating the bill’s line item to a fixed asset account.

If you want to record fixed assets in a different account, create a new account in the Chart of Accounts module and set the Account Type as Fixed Asset. To do this:

Go to Accounting on the left sidebar.
Select Chart of Accounts in the module bar.
Click + New Account in the top right corner.
In the Create Account pop-up, select the Account Type as Fixed Asset and enter the Account Name.
Check the option When this account is associated with a line item in a transaction, create the item as a fixed asset.
Select the Fixed Asset Type you want to associate with the account.
Click Save.

Once you’ve created an account, you will have to create a bill. To do this:

Go to Purchases on the left sidebar.
Click the Bills dropdown in the module bar, and select Bills.
Click + New in the top right corner.
Enter the required details. In the Item Table, ensure that the account associated with the line item is a fixed asset account that you created.
Click Save as Open.

Once you’ve saved the bill, the line item will be created as a fixed asset, and you can view it in the Draft Asset tab of the Fixed Assets module.

Note: Fixed assets can only be created for a line item of a bill that is in Open status.

Create Fixed Assets from Journals

When you associate a fixed asset account with a debit entry in a journal, it will be created as a fixed asset in the Draft status. Learn how to create a manual journal.

Note: The name of the fixed asset will be based on the description you provide for the debit entry. If not, the asset will be named after the fixed asset account associated with the debit entry.