The “Assets” module allows you to keep track of your fixed assets like machinery, land and building. The module allows you to generate monthly depreciation entries automatically, get depreciation board, sell or dispose assets and perform reports on your company assets.
As an example, you may buy a car for 36,000 USD (gross value) and you plan to amortize it over 36 months (3 years). Every months (periodicity), KIU will create a depreciation entry automatically reducing your assets value by 1,000 USD and passing 1,000 USD as an expense. After 3 years, this assets accounts for 0 USD (salvage value) in your balance sheet.