---
title: Fixed Asset Records
slug: fixed-asset-records
icon: 📃
docTags: 
createdAt: 2024-01-19T16:40:44.388Z
---

A Fixed Asset Record is created for each asset purchased. The record contains key information used to manage the asset for accounting and insurance purposes.

## General Fields

![](https://api.archbee.com/api/optimize/X2aA_MKMIQid52VOc-G4k/njyqWI8Uctrtz4kFbpKFH_image.png)

### Fixed Asset ID

Gravity will automatically assign an internal fixed asset id in sequence.

### Name

Enter a Name for the Fixed Asset

### Acquisition Cost

Enter the Acquisition Cost

### Type

Select From the options:

- New
- Leased
- Used
- Other

### Description

Enter a description for the asset.

### Additional Fields

Additional Fields are supplied for users to track additional asset information.

### Retirement Date

This is a system maintained field and is filled in when the asset is retired

## Defaults

![](https://api.archbee.com/api/optimize/X2aA_MKMIQid52VOc-G4k/Z86Bhbx90eqrpYWWxG0gI_image.png)

### Asset Account/Purchase From Account

These accounts are completed by the acquisition wizard

### Accumulated Depreciation Account/ Depreciation Expense Account

These accounts are required and used for the monthly posting a depreciation expenses.

### Proceeds Account/Gain/Loss Account

These accounts are used by the retirement wizard when assets are retired.

## Books



## Voucher Fixed Assets

This contains one record for each Voucher line attached to the fixed Asset. These records can be created from the acquisition wizard or manually by selecting "Add Existing Voucher"