How to Register Fixed Assets in COUNT

Registering Fixed Assets in COUNT allows you to track long-term business assets such as equipment, furniture, vehicles, and computers, while automatically handling depreciation, book value tracking, and reporting.

Once an asset is registered, COUNT will calculate depreciation over time and reflect it in your accounting records based on the asset setup and rules you define.

Benefits of Registering Fixed Assets in COUNT

Registering fixed assets in COUNT helps you:

• Track long-term business assets in one place
• Automatically calculate depreciation over time
• Maintain accurate book value and accumulated depreciation
• Keep audit-ready asset records
• Standardize accounting treatment through asset types
• Reduce manual depreciation calculations and journal entries

Before You Register a Fixed Asset

Before adding individual assets, make sure:

• You have access to the Fixed Assets module under Accounting → Fixed Assets
• You have created at least one Asset Type
• Your chart of accounts includes asset, depreciation, and expense accounts

How to Set Up Fixed Assets in COUNT

Step 1: Go to Fixed Assets

• Open your workspace and navigate to: Accounting → Fixed Assets. This will open the Fixed Assets dashboard, where you can manage asset types and registered assets.
• Create an Asset Type. If no asset types exist yet, you must create one before registering any assets. Click: **Add Asset Type. **Asset Types define how different categories of assets are treated in your accounting system.

Step 2: Configure Asset Type Details

When creating an Asset Type, you will set up:

• Name: Enter the name of the asset category
• Asset Account - Records the original cost of the asset.
• **Accumulated Depreciation Account - **Tracks total depreciation over time.
• **Depreciation Expense Account - **Records depreciation as an expense in your financial statements.
• **Depreciation Settings: **You will also define default depreciation rules:
• **Depreciation Method: **Determines how depreciation is calculated over time.
• **Averaging: **Defines how depreciation is applied during the first and last depreciation periods.
• **Calculate Basis: **Determines the basis used for depreciation calculations.
• **Effective Life (Years): **Sets the expected useful life of the asset in years.

These settings ensure all assets under this type follow consistent depreciation rules. Once all details are completed, click: **Create Asset Type. **After saving, the asset type will be available for use when registering assets.

Step 3: Add the Fixed Asset Transaction

Before the asset can appear in Fixed Assets, you must first record the purchase transaction.

• Go to: Transactions → Add Transaction
• Create the asset purchase transaction and make sure to select the appropriate Category linked to the asset.

Step 4: Review and Register the Fixed Asset

After saving the transaction, go to: Accounting → Fixed Assets → Review Drafts.

COUNT will display the asset transaction as a draft item waiting to be registered.

Open the draft and complete the required asset details, including:

• Asset Name (e.g. Laptop, Printer, Vehicle)
• Purchase Cost
• Purchase Date
• Depreciation Start Date
• Asset Type

After confirming all information, assign the correct Asset Type and click: Register Asset. Once registered, the asset will officially appear under Registered Assets, and depreciation tracking will begin based on the settings configured in the Asset Type.

Asset Types define:

• Accounting treatment of assets
• Depreciation method and rules
• Account mapping structure

Asset Tracking in COUNT

Once assets are registered, COUNT will automatically:

• Calculate depreciation over time
• Update book value and accumulated depreciation
• Reflect changes in reports
• Maintain structured, audit-ready records

Updated on: 08/05/2026