Q1. What is Fixed Assets Summary?
Fixed Assets Summary is an accounting report that helps you:
View your fixed asset register
Compare fixed asset balances with ledger balances
Identify differences between the register and the ledger. It has two tabs:
Register
Reconciliation Summary
Q2. Where can I access Fixed Assets Summary?
Go to Reports > Summaries > Fixed Assets
Q3. What is the Register tab?
The Register tab shows a detailed list of all fixed assets within the selected date range.
It includes columns such as:
Purchase Date
Asset Name
Asset Reference
Asset Account
Status
Purchase Value
Net Book Value
Assets can be grouped by:
Type
Category
Account
Status
Q4. How do I change the date range?
Click the Date Range dropdown
Choose preset options such as:
This Month
This Financial Quarter
This Financial Year
Last Month
Last Financial Quarter
Last Financial Year
You may also manually select start and end dates
Q4. Can I filter the Fixed Assets Register?
Yes. Click Filter and apply filters such as:
Asset Account
Asset Category
Asset Name
Asset Reference
Asset Type
Depreciation Method
Status
Purchase Value
Net Book Value
Click Apply to activate the filters.
Q5. Can I customize the columns in the Register?
Yes. Click the settings icon and select Adjust Columns.
You may:
Add or remove columns
Reorder columns
Additional available columns include:
Accumulated Depreciation Account
Depreciation Expense Account
Depreciation Method
Useful Life (Months)
Depreciation Start Date
Depreciation End Date
Disposal Date
Depreciable Value
Residual Value
Closing Book Value
Gain/Loss on Disposal
Click Save after making changes.
Q6. Can I export the Fixed Assets Register?
Yes. Click the download icon to download the register. The export reflects your visible columns.
Q7. What is the Reconciliation Summary tab?
The Reconciliation Summary compares balances between:
General Ledger
Fixed Asset Register
It helps ensure that your asset accounts match the asset register.
Q8. What information is shown in Reconciliation Summary?
For each asset account, you will see:
Opening Balance
Debits in Period
Credits in Period
Closing Balance
For each section, the report shows:
Ledger balance
Fixed Asset Register balance
Difference
Q9. What does the Difference represent?
The Difference shows the variance between the ledger balance and the fixed asset register balance
A non-zero difference may indicate:
Missing asset entries
Manual journal entries not linked to the register
Timing differences
Q10. Can I filter accounts in Reconciliation Summary?
Yes. Select specific asset accounts from the Account dropdown. Choose All Accounts or specific accounts such as:
Property, Plant and Equipment
Accumulated Depreciation
Intangible Assets
Computer Equipment
Q11. Can I export the Reconciliation Summary?
Yes. Click the download icon to download the summary. The export reflects the selected date range and accounts.