Title here
Summary here
Asset Groups
Concepts & Definitions
Asset groups classify fixed assets into categories for consistent accounting treatment and maintenance scheduling. Every asset in the Asset Register must belong to a group. The group determines which GL accounts are used for asset value, accumulated amortisation, amortisation expense, and disposal — configured separately in Asset Group Accounts.
| Term | Definition |
|---|---|
| Code | A short identifier for the group (e.g. MOTVEH, OFFEQUIP) |
| Asset Type | The classification of assets in this group — FixedAsset, IntangibleAsset, etc. |
| Maint Remind Lead | Days before a scheduled maintenance date to trigger the first reminder notification |
| Maint Remind Repeat | Days between follow-up reminders if a maintenance task is overdue |
How To
Create an Asset Group
Navigate to Admin → Asset Management → Asset Groups.
- Click New.
- Enter the Code (short identifier) and Description (full name, e.g. Motor Vehicles).
- Select the Asset Type — FixedAsset is the most common.
- Set the Maint Remind Lead (days before a due date for first reminder) and Maint Remind Repeat (days between follow-up reminders).
- Click Save.
After creating the group, set up its GL accounts in Asset Group Accounts so that depreciation and disposal journal entries post correctly.
