Maintaining asset definitions

You can use asset definitions to:

• add, delete and rename asset types
• link an asset type to an asset general ledger code
• define the depreciation rate and method used when running asset depreciation calculations
• link the asset type to depreciation profit and loss expense accounts and balance sheet accrued depreciation accounts
• define the profit and loss account to record any gains/losses on the sale of an asset
• define the general ledger account to record any private use associated with the asset type.

What you can do: