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, 30 Sep 2009
Pastel Fixed Assets features
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The Fixed Asset Add-on Module for the Pastel Xpress, Partner or Evolution Accounting Software
solutions was developed due to South African Company Law requirements. The law requires that you
keep a register of your business' fixed assets as part of it’s accounting records. However,
managing your company’s fixed assets can be tedious and time-consuming. Fixed assets are physical
items such as desks, computers, cars, machinery, etc. which you acquire to run your business. As
you use assets, they depreciate or become obsolete. You can legally expense depreciation in your
accounts for tax purposes.
| Managing your
fixed assets includes the following tasks |
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Tracking each asset’s
value, both from a tax and an accounting point of view |
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Depreciating assets
correctly using an appropriate depreciation rate and method |
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Updating the
replacement values of your fixed assets for insurance purposes |
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Accurately recording
any sale, disposal or loss of assets |
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Maintaining an
accurate fixed assets register which records information such as: date of purchase;
date of disposal; purchase price; accumulated depreciation; net book value
etc |
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