Fixed Asset Register
Overview
Fixed Asset Register — Business Overview
The Fixed Asset Register is a core business report that provides a complete, structured view of all fixed assets owned or controlled by the organization. It supports financial control, asset lifecycle management, statutory compliance, and informed capital planning.
This report acts as the single source of truth for fixed assets, showing what assets the business owns, where they are, how much they are worth, and how their value changes over time.
What Business Information This Report Provides
The Fixed Asset Register gives a consolidated snapshot of: - All fixed assets currently recorded in Dafater - Original acquisition cost and current book value - Depreciation charged to date - Asset status (in use, disposed, sold, or under maintenance) - Ownership, location, and custodian details - Useful life and remaining value of assets
From a business perspective, this report answers: - What assets do we own? - What are they worth today? - Where are they located and who is responsible for them? - How much depreciation has been charged?
When and Why to Use This Report
When to Use
- Monthly, quarterly, or annual financial reviews
- Year-end accounting and audit preparation
- Asset verification and physical audits
- Budgeting for asset replacement or upgrades
- Insurance valuation and risk assessment
- Regulatory or statutory reporting
Why It Matters
- Ensures accurate asset valuation on financial statements
- Helps prevent asset loss, duplication, or misreporting
- Supports depreciation accuracy and tax compliance
- Improves capital expenditure planning and cost control
Key Columns and Their Business Meaning
| Column | Business Meaning |
|---|---|
| Asset ID / Asset Name | Unique identification of each fixed asset |
| Asset Category | Type of asset (e.g., machinery, vehicles, furniture) for analysis and reporting |
| Purchase Date | When the asset was acquired, useful for aging and lifecycle tracking |
| Purchase Cost | Original investment made in the asset |
| Depreciation Method | How the asset’s value is reduced over time (straight-line, etc.) |
| Accumulated Depreciation | Total depreciation charged so far |
| Current Book Value | Asset’s remaining value on the books |
| Location | Physical or functional location of the asset |
| Custodian / Assigned To | Person or department responsible for the asset |
| Asset Status | Indicates whether the asset is active, disposed, sold, or under repair |
| Useful Life / Remaining Life | Expected duration of economic benefit from the asset |
Available Filters and Their Business Purpose
| Filter | Business Purpose |
|---|---|
| Company | View assets belonging to a specific legal entity |
| Asset Category | Analyze specific asset types |
| Asset Status | Focus on active, disposed, or sold assets |
| Location | Review assets by branch, site, or department |
| Date Range | Analyze assets acquired within a specific period |
| Custodian / Department | Assess asset responsibility and allocation |
These filters allow business users to tailor the report for audits, management reviews, or departmental analysis.
How to Interpret the Results for Business Decisions
High depreciation vs. low book value
→ Assets may be nearing end-of-life and require replacement planning.Large asset base in one department
→ Opportunity to review utilization and cost efficiency.Assets with no assigned custodian or location
→ Risk of asset mismanagement or loss.Disposed assets still showing value
→ Indicates accounting or process gaps needing correction.Aging assets with high maintenance cost
→ Supports decisions to repair, replace, or retire assets.
Common Use Cases and Business Scenarios
Financial Reporting & Audits
- Reconcile fixed assets with the general ledger
- Provide auditors with a complete asset listing
Asset Verification
- Compare physical assets with system records during audits
Budgeting & Capital Planning
- Identify assets due for replacement
- Plan future capital expenditure based on asset age and value
Insurance & Risk Management
- Determine insured value of assets
- Assess concentration of assets by location
Operational Control
- Track accountability for assets
- Reduce loss, misuse, or underutilization
Summary
The Fixed Asset Register is a foundational management and compliance report in Dafater. It enables leadership, finance, and operations teams to maintain control over fixed assets, ensure accurate financial reporting, and make informed decisions about asset investment, maintenance, and disposal.
Report Information
- Module: Assets
- Related DocType: Asset
- Report Type: Script Report
- Standard: Yes