How to set up your asset types
- Navigate to the Admin page by clicking the cogwheel icon
- Expand the Set up your asset types section
- Click Add a New Asset Type
- Enter the name of the asset type in the description field
N.B. If you are using Asset.Guru for depreciation, continue to step 5 otherwise, skip ahead to step 7
- Set a default depreciation schedule for the asset type (recommended). If you don't wish to set do so, simply leave the settings as they are with the selections set to None.
- Map your asset types if the account is connected to Xero or QuickBooks Online by selecting the asset, depreciation and accumulated depreciation account from the dropdown menus provided.Hint #1: If you can't find any of these accounts in a drop down menu, simply untick the Filter Accounts check box and try again
Hint #2: If you're not connected to QBO or XRO, then it isn't necessary to map your Asset Types and the Fixed Asset Account, Depreciation Account and Acc Dep. Acct fields won't be visible.
- Click Confirm
- Repeat for all asset types