What Assets owns
- Fixed assets — the asset register with acquisition details and current book value
- Depreciation — scheduled and posted depreciation entries
- Asset categories — groups for reporting and bulk configuration
- Disposals — records of sold or written-off assets
Data flows out of Assets to
| Module | What it sends |
|---|---|
| Finance | Depreciation journal entries |
| Maintenance | Asset records for maintenance tracking |
Data flows into Assets from
| Module | What it sends |
|---|---|
| IT & Helpdesk | IT hardware records synced to the asset register |
Your fiscal year must be configured in Settings → Company Profile before you can run depreciation or view asset reports. Depreciation periods are calculated from the fiscal year start month.
Common tasks
Add a fixed asset
Enter asset details
Fill in the asset name, category (Vehicles, IT Equipment, Machinery, Furniture, etc.), serial or registration number, and location.
Set acquisition details
Enter the purchase date, purchase cost, and supplier. These fields anchor the depreciation calculation.
Configure depreciation
Choose the depreciation method: Straight-line (equal amounts each period) or Declining balance (higher depreciation in early years). Set the useful life in years and the residual value at end of life.
Assign to an employee (optional)
Link the asset to the employee responsible for it. They are notified of the assignment and the asset appears on their profile.
Run depreciation for a period
Select the period
Choose the month and year to depreciate. The system calculates the depreciation amount for every active asset in that period.
Review the depreciation schedule
The preview shows each asset, its current book value, and the depreciation amount for this period. Assets approaching full depreciation (book value near residual value) are flagged for review.
Post to Finance
Click Post. Journal entries are created in Finance automatically — debiting depreciation expense and crediting accumulated depreciation for the total amount.
View the asset register and current book values
Open Assets → Register
The register lists all active assets with their current book value, category, location, and assigned employee.
Filter by category or location
Use filters to view a specific category (e.g. all vehicles) or all assets at a particular site.
Revalue an asset
Enter the new value
Enter the revalued amount and the date of revaluation. Add a reason (e.g. professional valuation, insurance revaluation, impairment).
Dispose of an asset
Enter disposal details
Set the disposal date and method: Sale or Write-off. If the asset was sold, enter the sale proceeds.
Add an asset from an IT & Helpdesk record
Click Add to Asset Register
The system pre-fills the asset details from the IT record: device name, serial number, purchase date, and cost.
Configure depreciation in the asset record
Review the pre-filled details and add the depreciation method, useful life, and residual value.
Troubleshooting
Depreciation is not posting automatically
Depreciation is not posting automatically
Check that your fiscal year is configured in Settings → Company Profile. Also confirm that the asset’s status is Active and that the acquisition date is before the period you are trying to depreciate. Fully depreciated assets (book value at residual value) will show zero depreciation — this is correct.
The book value of an asset looks incorrect
The book value of an asset looks incorrect
Open the asset record and review the Depreciation Schedule tab. This shows every period’s planned and posted depreciation. If a period was skipped or posted twice, the book value will be off. Contact your Finance team to post a correcting journal entry manually.
I cannot delete an asset that was added by mistake
I cannot delete an asset that was added by mistake
Assets with posted depreciation or disposed status cannot be deleted. If the asset was added in error before any depreciation was posted, contact an Admin to delete it. If depreciation has already been posted, the correct action is to dispose of the asset at its cost (zero sale proceeds), which will net the entry out.
Disposal is showing a gain/loss I don't expect
Disposal is showing a gain/loss I don't expect
The gain/loss is calculated as: sale proceeds minus net book value on the disposal date. The net book value equals cost minus all accumulated depreciation posted to date. If it looks wrong, check whether all depreciation periods have been run up to the disposal month — if depreciation is behind, the book value will be higher than expected.
An asset category is missing from the dropdown
An asset category is missing from the dropdown
Categories are configured in Settings → Assets → Categories. Admin and Manager roles can add new categories. Once added, they appear immediately in the asset form.
FAQ
Can I depreciate assets on a custom schedule rather than monthly?
Can I depreciate assets on a custom schedule rather than monthly?
Assets depreciate on the schedule set when you run depreciation manually, or on a monthly automatic schedule if automatic posting is enabled. Quarterly or annual depreciation runs are supported — just run depreciation for the relevant period when needed.
What depreciation methods are supported?
What depreciation methods are supported?
Softbooq supports Straight-line (SL) and Declining balance (DB). Straight-line spreads the depreciable amount equally over the useful life. Declining balance applies a fixed percentage to the reducing book value each period, resulting in higher depreciation in early years.
Can I track assets across multiple office locations?
Can I track assets across multiple office locations?
Yes. Enter the location when adding the asset. You can filter the register by location and run depreciation reports per site. Locations are managed under Settings → Assets → Locations.
What happens to an asset when the assigned employee leaves?
What happens to an asset when the assigned employee leaves?
When an employee is offboarded in HR, their assigned assets are flagged for retrieval. An IT & Helpdesk ticket is created automatically for asset return. The asset itself remains active in the register until it is reassigned or disposed of.
Can I import an existing asset register from a spreadsheet?
Can I import an existing asset register from a spreadsheet?
Yes. Go to Assets → Import and download the template CSV. Include each asset’s details, acquisition date, cost, and current accumulated depreciation. Importing existing accumulated depreciation ensures the book value on import is correct.
See also
Maintenance
Schedule and log maintenance work against assets.
IT & Helpdesk
IT hardware in the helpdesk module links to the asset register.
Procurement
Capital purchases received from POs can be added as assets.