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Midocean Technologies

ERPNext Asset Management: register, depreciate and maintain fixed assets

ERPNext Asset Management keeps a register of every fixed asset with its location, custodian and value, and posts depreciation to the ledger on schedule. Maintenance, repairs and movements are recorded against the asset, so finance and maintenance work from the same record, from purchase to disposal.

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Purchase to disposalThe documents your team creates, in order. Select one to see what it records and updates.
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Purchase Receipt. Receives the asset item, and ERPNext can create the asset record from it.

UpdatesAsset registerCapital work in progress

At a glance

Owned by
Finance controller and maintenance head
Runs in
ERPNext, standard module
Works with
Accounting, Buying, Inventory, Manufacturing, Projects
Packages
Not a Starter Pack tier. Scoped within an ERPNext implementation, or the Success Pack (₹8,50,000 including 200 development hours).

What changes for your finance and maintenance teams

We map how your team works today before configuring anything. These are the changes department heads notice first.

TodayThe fixed asset register is a spreadsheet kept by accounts.
In ERPNextEvery asset is a record with cost, category, location and custodian, created from the purchase.
TodayDepreciation is calculated and journaled by hand.
In ERPNextDepreciation schedules post entries automatically, with separate finance books if you report on more than one basis.
TodayNobody is sure which machine is where, or who holds a laptop.
In ERPNextAsset movements record each change of location or custodian, with full history.
TodayMaintenance is remembered, not scheduled.
In ERPNextMaintenance tasks fall due on a schedule and are assigned to a maintenance team, with every visit logged.

Key capabilities

Asset register
Category, location, custodian, purchase details and insurance on each asset.
Depreciation methods
Straight line, written down value, double declining balance or manual, with shift-based depreciation where needed.
Finance books
Separate depreciation for company books and tax books on the same asset.
Capital work in progress
Collect construction or installation cost, then capitalize it as an asset.
Maintenance and repair
Maintenance teams, schedules and logs; repairs with spares and costs, capitalized where they add value.
Value adjustment and disposal
Revalue, sell or scrap an asset, with the gain or loss booked.

When the standard module does not cover one of your processes, we build the gap in a separate Frappe app, so ERPNext itself stays upgradeable. How we handle customization

See Asset Management in ERPNext

Screens for your finance and maintenance teams, from Frappe’s official ERPNext documentation. Select one to see it.

ERPNextAssets › Asset
ERPNext Asset form: The asset’s category, location, purchase date and value, and whether it is depreciated and maintained.
AssetFormThe asset’s category, location, purchase date and value, and whether it is depreciated and maintained.Screenshot: Frappe Technologies Pvt Ltd and contributors, from the ERPNext documentation, licensed CC BY-SA 3.0. Resized.

Reports finance and maintenance get as standard

These come with ERPNext. Each one can be filtered by company, period or dimension, printed, and exported to Excel.

  • Fixed Asset RegisterEvery asset with cost, depreciation and net value.
  • Asset Depreciation LedgerDepreciation entries by asset and period.
  • Asset Depreciations and BalancesOpening, additions, depreciation and closing by category.
  • Asset MaintenanceMaintenance tasks due and done.
  • Asset ActivityThe history of every action on each asset.

How Asset Management connects to the rest of ERPNext

Every module writes to the same database. Nothing is exported, re-keyed or synced overnight between them.

  • AccountingDepreciation, revaluation and disposal post journal entries.
  • BuyingAssets are bought through purchase orders and receipts.
  • InventorySpares used in repairs are issued from stock.
  • ManufacturingMachines tracked as assets keep maintenance history next to their workstations.
  • ProjectsCapital projects collect cost before it is capitalized.

Industries where Asset Management does the most work

Where our experience comes from

We have not published an asset management case study yet. Our published ERPNext work, including the 200+ user rollout for Shimnit India, is in our case studies.

Read the Shimnit India case study

Asset Management questions

Can we import existing assets?

Yes. Existing assets come in with purchase date, gross value and accumulated depreciation, and depreciation continues from there.

Which depreciation methods are supported?

Straight line, written down value, double declining balance and manual schedules, set per asset category or per asset.

Can we keep separate book and tax depreciation?

Yes. Finance books let one asset carry different depreciation for your company books and tax books.

Does it handle preventive maintenance?

Yes. Maintenance tasks are set with a frequency and a team, fall due on schedule, and each visit is logged against the asset.

Plan your asset management rollout

A senior consultant walks through how your finance and maintenance teams works today and recommends a scope for Asset Management, in writing.

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