Asset Fleet
Manage company vehicles as fixed assets with automatic depreciation and value tracking
Asset Fleet module connects fleet management with fixed asset system, enabling automatic depreciation for company vehicles, book value tracking and detailed financial reports.
System automatically creates fixed assets when purchasing vehicles, calculates periodic depreciation using selected method and updates book value in real-time.
Key Features
Key points
• Auto Asset Creation: Automatically create fixed asset when purchasing vehicle
• Vehicle Depreciation: Automatic depreciation calculation for company vehicles
• Book Value Tracking: Track remaining value over time
• Depreciation Methods: Support linear and declining balance
• Asset Reports: Asset value reports, accumulated depreciation
• Disposal Management: Manage disposal, vehicle sales with accounting
• Integration: Integrate Fleet, Accounting, Asset modules
Management Process
Steps
1. Purchase vehicle: Buy vehicle and create vendor bill
2. Create asset: System automatically creates fixed asset
3. Configure depreciation: Select method and depreciation period
4. Auto depreciation: System automatically calculates and records depreciation
5. Track book value: Monitor remaining value over time
6. Dispose asset: Dispose or sell vehicle at end of useful life
Depreciation Methods
Method Selection
| Method | Formula | Suitable For |
|---|---|---|
| Linear | Original cost / Years | Trucks, buses, specialized vehicles |
| Declining Balance | Book value × % | Cars, high-tech vehicles |
| By Kilometer | Original cost / Total km expected | Taxis, freight vehicles |
Real-World Scenarios
Key points
• Transport company: Manage truck fleet as assets, calculate depreciation for transport costing
• Enterprise with company cars: Track vehicle value, plan replacement when fully depreciated
• Car rental company: Calculate remaining value to price used vehicle sales
Best Practices
Key points
• Choose depreciation method appropriate for vehicle type and usage
• Update odometer regularly if using km-based depreciation
• Set depreciation period according to local tax regulations
• Monitor book value to plan vehicle replacement
• Record major repairs as asset improvements
Troubleshooting
Common Issues
| Issue | Cause | Solution |
|---|---|---|
| Asset not auto-created | Asset category not configured | Set up asset category for vehicle model |
| Wrong depreciation amount | Incorrect cost or period | Check purchase price and depreciation period |
| Negative value | Depreciation beyond period | Stop depreciation when value = 0 |
FAQ
Key points
• When is asset created for vehicle? Automatically when purchasing if asset category configured for vehicle model.
• Which depreciation method to choose? Linear for standard vehicles, declining balance for high-tech vehicles.
• Can depreciation method be changed? Not recommended after starting, create new asset if needed.
• How to handle vehicle sale before fully depreciated? Create disposal entry, record gain/loss on disposal.