1️⃣ Create an account in the company currency or the currency in which you record the initial or final value of your fixed assets.
We call this account Property, Plant and Equipment.
2️⃣ Let’s simulate a situation in which we buy a fixed asset.
We create an expense, where we indicate the account from which we paid for the asset, the amount, and the category, for example, “Equipment”, the counterparty and the tag “Fixed assets”.
2️⃣ Now we have to put the equipment into account. To do this, create an income in the “Fixed assets” account for the amount of equipment purchased and specify a tag such as “Full cost of fixed assets”.
3️⃣ Next step – we need to write off the depreciation of fixed assets each month. To do this, we create an expense on the “Fixed Assets” account for the amount of monthly equipment depreciation, add a “Depreciation” tag and set a date when these assets will write off the account, for example, the last day of each month.
Next, in the created operation, select Make recurring, select Other and specify the number of recurrences we need, for example, for a year.
Choose an interval once a month and number of repetitions – 11 (one expenditure we already planned and need to make 11 more repetitions)
Save the expenditure and see 12 planned transactions in the Fixed assets account.
4️⃣ When the depreciation write-off date arrives, you need to confirm the planned operation – click the “tick” so that the balance in the Fixed Assets account changes to the amount specified in the transaction.
Now let’s see what depreciation information we can check in the Analytica reports.
5️⃣ In the “Money” report, you remove the tags “Full Fixed Asset Value” and “Depreciation” from the filters. You may save the filter, so you’ll be able to select it later from the list of saved filters to view the information quickly.
We can now see the costs of equipment in the Cash report! Great!
6️⃣ In the Profit report, we disable the tags “Fixed Assets” and “Full Cost of Fixed Assets” in the filters. We may save this filter at your convenience.
In the graphical form, we will see the following data:
In the tabular view, we see our future payments. You need to click on one of your future payments to see more information about the selected transaction.
7️⃣ Please note that to be assure that the money in the “Fixed Assets” account does not affect the “Total in Accounts”, you can hide it in the accounts edit menu