---
title: Fixed Asset Books
slug: fixed-asset-books
icon: 📃
docTags: 
createdAt: 2024-01-19T17:00:41.041Z
---

Each Fixed Asset will have one or more fixed asset books. Each Fixed Asset book contains its own information on how the asset should be depreciated for specific purposes. Every Asset will have a book labeled "Internal (Post to GL) - FA-X" that will contain the information for posting depreciation to the General Ledger. Additional books for notation purposes only can be added, each with their own depreciation methods and information, using the "+ New Fixed Asset Book" option.



![](https://api.archbee.com/api/optimize/X2aA_MKMIQid52VOc-G4k/TtiMZ7XAHhhPLhi0Vbeg7_image.png)

## General Fields

### Fixed Asset ID 

The unique asset ID assigned by Gravity

### Type

The asset may have more than one depreciation book. The first book created, labeled Internal will post to the General Ledger.

- Internal (Post to GL) - Reserved
- Federal
- State
- AMT
- ACE
- Property Tax
- Other 1
- Other 2

### Original Cost or Basis

Enter the assets cost or basis for depreciation

### Accumulated Depreciation

Typically, the system is maintained by the organization, but it can also be initialized with the accumulated depreciation data from a previous system.

### Net Book Value

Calculated by Gravity

### Salvage Value

Enter the salvage value if any

### Other Basis Deduction

Enter any other amounts that are deducted from the asset value for calculating deprecation.

### Depreciable Value

Calculated by Gravity

### Date Placed in Service

Enter the date the asset was placed in service

### Deprecation Start Date

Enter the date deprecation will start

### Depreciable Value

Calculated by Gravity

### Asset Life

Enter the Asset Life in Months

### Depreciation Method

Select the Depreciation Method:

- Straight Line
- Declining Balance (150%)
- Declining Balance (150%)/SL Switch - this will switch to the straight line method when declining balance is less than SL
- Declining Balance (200%)
- Declining Balance (200%)/SL Switch - this will switch to the straight line method when declining balance is less than SL
- Manual - the calculation must be made by the user

### Half Year

IF you choose a half year convention (assume 1/2 year depreciation in the first and last year no matter when the asset was purchased) select "Yes"

## Deprecation Lines



After Creating and setting up books and saving them. You must Calculate Depreciation using the "Calculate" menu option on the Fixed Asset Book menu. Calculating deprecation will setup the Deprecation lines to be used by the posting process.