Fixed-asset register

The fixed-asset register is the single, trustworthy record of everything your company owns, machinery, vehicles, IT equipment, furniture and tools. This page covers creating, editing, viewing, organising and searching assets, plus how depreciation is worked out.

Register a new asset

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Add a short GIF here: registering a new asset, opening Create asset, entering name, reference number, asset type and quantity, and saving to get a new active asset.

1. Open the Assets module and choose Create asset (you need the asset-create permission).
2. Enter the basic details:
   • Name: for example “CNC Lathe-1”.
   • Reference No.: must be unique within your organisation. If a number is already in use, you get a clear message and the asset is not saved.
   • Asset Type / Category: chosen from your configured categories (see Categories below).
   • Quantity: a whole number of 1 or more.
3. Fill in any purchase, lifecycle and depreciation details, plus any custom fields your category defines.
4. Save. The asset gets a system-generated ID, becomes active, and appears on your dashboard.

If required fields are missing or a value is invalid, a blank name, a quantity below 1, a purchase amount that isn’t a positive number, a future receipt date, or an expiry date before the receipt date, the save is blocked with clear, field-level messages and nothing is partly saved.

Edit an asset

Open an asset and choose Edit (permission required). You can update its details, location, purchase information, lifecycle, depreciation configuration and maintenance data.

• Changing the cost, depreciation method, rate or start date re-calculates the depreciation figures consistently.
• The same validation rules as creation apply (uniqueness, valid ranges, sensible dates).
• Every edit is recorded in the asset’s audit trail, what changed, by whom, and when. See Asset audit trail.

View an asset

The asset detail screen is a complete, read-only picture of one asset, with sections for:

• Basic details and any custom fields
• Location and custodian (including reassignment history)
• Purchase information, with a clickable link to the source purchase document or vendor invoice where one exists
• Depreciation (history and projection)
• Maintenance, warranty and insurance, and licences
• Documents, transfer history and utilisation

Amounts are shown in your organisation’s currency and locale. The Edit option only appears if your role allows it and the asset isn’t locked. Cost and book-value figures may be hidden from roles that aren’t permitted to see them.

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Add a screenshot here: the asset detail view with its sections (basic details, location/custodian, purchase, depreciation, maintenance, documents, transfer history).

Organise with categories

Categories keep your register consistent and cut down data entry. An Org Admin (asset-admin) manages a category tree: for example IT > Laptops, Vehicles > Trucks, Machinery > Pumps.

Each category can carry defaults that new assets inherit:

• Depreciation method, rate, useful life and salvage percentage
• Maintenance frequency
• Custom fields: text, number, date, dropdown (picklist) or yes/no, to capture attributes specific to your industry, which then appear on the asset record

Categories can be active or inactive; an inactive category can’t be assigned to new assets. A category that already has assets against it cannot be deleted: deactivate it instead. Category and custom-field changes are audit-logged.

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Add a screenshot here: the asset category tree with parent and child categories, and the per-category defaults panel (depreciation method, rate, useful life, salvage %, maintenance frequency).

Search and filter

Use search to find any asset fast:

1. Type into the asset search box, it matches on name, ID, reference or location.
2. Search is case-insensitive and matches partial values, so “cnc” finds “CNC Lathe-1”.
3. No match shows a clean empty state, not an error.

You can also combine structured filters (category, status, depreciation status, maintenance-due, ownership, warranty status), which narrow results together. Search only ever covers your own organisation’s assets.

Depreciation and book value

Villva ERP calculates depreciation automatically so your register reflects correct values for the books. Two methods are supported:

• Straight-Line Method (SLM): the same amount is charged each period: (Cost − Salvage) ÷ useful life. Accumulated depreciation grows evenly and never exceeds Cost − Salvage.
• Written-Down Value (WDV): each period charges a percentage of the remaining book value, so the charge reduces over time.

In both methods:

• Book value = Cost − accumulated depreciation.
• Book value never drops below the salvage value: the calculation caps it.
• If you migrated an asset with depreciation already accrued, that opening accumulated amount is the starting point and the calculation continues from there.
• An asset bought part-way through a period is flagged “partial-period” and that first period is charged in full (no day-by-day proration).
• Figures are rounded to the standard Rupee rounding rule and are deterministic, the same inputs always give the same result.

On your dashboard, the “Depreciated Amount” is the accumulated depreciation as of today, and the book value is the cost minus that amount.