Introduction to create fixed asset classes, subclasses, and locations

  • 3 minutes

You can use fixed asset classes, subclasses, and locations to classify fixed assets. This ability is useful, for example, when you want to calculate depreciations only for tangible assets or when you want a list of all assets at a specific location.

Classes and subclasses form a classification hierarchy that has two levels. Fixed asset classes are the top level, which you typically use to divide assets into tangible and intangible assets. You must create at least one fixed asset class in your setup.

To create fixed asset classes, follow these steps:

  1. Select Search (Alt+Q) in the upper-right corner of the page, enter FA Classes, and then select the related link.

  2. Select New.

  3. In the Code field, enter the code of the FA class, for example, Tangible.

  4. In the Name field, enter the name of the FA class, for example, Tangible Fixed Assets.

Screenshot of the FA classes with name field.