Fixed Assets

The Fixed Asset Module in Gravity provides support for managing and depreciating long-term fixed assets of an organization. Through the Acquisition wizard, fixed assets can be created either directly or from voucher lines that are appropriately marked. Each fixed asset will be assigned a specific set of internal books for recording and expensing depreciation in the financial records. Moreover, additional fixed asset books can be created to track depreciation for other reporting purposes, such as federal tax or personal property tax records.

Note: A Fixed Asset Settings record must be set up first to define the default accounts that are being used. See Fixed Asset Settings