Asset.Guru Glossary
Let's keep things simple and get on the same page with the familiar (and unfamiliar) terms used in Asset.Guru.
These will help whether initially getting started or when doing some asset analysis down the track!
| Term | Definition |
| Depreciating Assets | Assets with a monetary current value and a Depreciation Type assigned. |
| Non-Depreciating Assets | Assets with a value (i.e. Purchase price) and with the Depreciation Type of 'None'. These are typically capital assets such as land that do not depreciate yet are present in financial reports (i.e. Depreciation Reports). |
| Instant Write Off | These are assets that have a purchase price, yet are valued to $0 on the Depreciation Start Date. |
| Track Only | No monetary value in Asset.Guru (i.e. $0 Purchase price and Current Value). These can also be referred to as an Expensed Asset. |
| Expensed Asset | Another term for an asset with no monetary value that behaves the same as a 'Track Only' asset. |
| Depreciation Term | Also known as the Straight line/Prime Cost method. Enter the number of years that the asset will depreciate over. EG 2 = 2 year Depreciation Term Note: when using the Bulk Asset Upload template, enter only either: 1. Term column OR 2. Rate column, but Not both the term and rate columns. |
| Depreciation Rate | The percentage the asset will depreciate by each year using the Declining Balance/Reducing Balance/Diminishing Value/Diminishing Balance method of depreciation. As noted above: when using the Bulk Asset Upload template, enter only in either: 1. Term column OR 2. Rate column, but Not both the term and rate columns. |
| Asset Type | These are assigned to assets and provide Depreciation Types with default Deprecation Terms or Depreciation Rates for both Accounting and Tax depreciation. Before activating an asset to the Asset Register, it must have an Asset Type selected. Note: the default terms/rates can be modified on the asset record from the default settings before activating an asset. |