Assets

This page shows you how Zinye ERP manages your fixed assets — the valuable things you own and use over several years, like vehicles, equipment, and computers.

What an asset is

An asset is something owned by the company, used in operations, with a useful life of more than one year. Its cost is spread across those years as depreciation, rather than expensed all at once — so a ₦300,000 printer expected to last three years shows ~₦100,000 of expense per year.

The Asset record is the centre of it all: purchasing, depreciation, maintenance, movement, scrapping, and sale are all recorded against it.

Set one up

A few things come first:

1. Create an Item with Is Fixed Asset enabled.
2. Set up an Asset Category (which carries the depreciation settings) and a Location.
3. Buy the asset via a Purchase Receipt / Purchase Invoice.

Then the Asset record (under Assets → Assets → Asset) is created for it, ready to depreciate.

Depreciation and beyond

Once set up, Zinye ERP calculates depreciation automatically over the asset’s life and posts the entries to your accounts — no manual schedule to maintain. The same record handles the asset’s whole life: maintenance, movement between locations or employees, and finally scrapping or sale.

Tip

Set your Asset Categories up carefully — they hold the depreciation method and useful life, so every asset in a category depreciates consistently and correctly without per-asset fiddling.

Related

• The purchase cycle
• Accounting