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A register of assets with cost, acquisition date, useful life and method. Depreciation posts to the ledger on schedule from the register rather than being calculated separately.
Disposals, revaluations and part-disposals update both at once, because there is only one record.
Because the register is a spreadsheet and the depreciation is a journal, and the journal is posted from the spreadsheet by hand. A disposal recorded in one and not the other is invisible until an audit.
Small companies often discover they are still depreciating something they sold two years ago.
Net book value is current and defensible at any date, not only at year end. Depreciation runs are a review rather than a calculation.
A disposal removes the asset and stops the depreciation in the same action, which is the specific error that otherwise persists for years.
It does not track physical location or condition — that is asset management, not asset accounting. Nest's asset records cover what an employee holds.
Tax depreciation where it differs from accounting depreciation is configured per asset rather than derived from your jurisdiction's rules.
Import at net book value with accumulated depreciation stated separately, not at cost with a fresh start. Getting that wrong misstates the balance sheet from day one.
Reconcile the register total to the ledger before running the first depreciation.
The ledger, for depreciation and disposals. Purchasing, where an asset was bought in. Cost centres, for where depreciation lands. That is the whole surface. Fixed assets is deliberately narrow.
A register of assets with cost, acquisition date, useful life and method. Depreciation posts to the ledger on schedule from the register rather than being calculated separately.
Net book value is current and defensible at any date, not only at year end. Depreciation runs are a review rather than a calculation.
It does not track physical location or condition — that is asset management, not asset accounting. Nest's asset records cover what an employee holds.
Import at net book value with accumulated depreciation stated separately, not at cost with a fresh start. Getting that wrong misstates the balance sheet from day one.
Fourteen days, every module, no card. Or half an hour with someone who will run it on your own records and tell you where it does not help.