Assets
Check out our Take your assets online We'll walk you through how to set up your assets register, and teach you the basics of managing an assets register in Assets.
The Assets tab in Client Accounting allows you to keep track of your client's fixed assets in an Assets register. It's a desktop application that stores and accesses data in the cloud.
You can use the Assets Live module on its own or integrated with Workpapers. Journals from the assets register post to the Workpaper period, which are then posted to your configured general ledger.
How it works
For each client, you'll have one active asset register, but multiple open asset years. This means that when adding an asset to the register, the item appears in all later years until disposed of.
This is great for future tax planning as you can calculate the for an asset two years in advance.
All you need to access Assets is an active internet connection and a Setting up MYOB Logins for your practice.
Key Features
Function | Assets | AE Assets | AO GL |
|---|---|---|---|
Integrated with Workpapers |  | ||
Supports multiple open years | | ||
Periodic asset reporting | | | |
Calculate private use | | | |
Low value / Small Business pooling (AU only) | | | |
Separate reports for Accounting and Taxation depreciation | | | |
Sell assets | | | |
Part-sell assets | | ||
Create sub-assets | | ||
Record additional expenditure (Second element costs) and incidental costs | | | |
Revaluation | | ||
Impairment Loss | | ||
Balancing Adjustment Offset | | ||
Calculate Profit/Loss and Capital Gain on sale | | | |
Can be used with AccountRight / Essentials ledgers | |