Managing assets

The Assets area tracks long-lived business property such as equipment, computers, furniture, and vehicles. It is an operational list for maintaining individual asset records; the Assets report and Depreciation report provide printable, year-based views.

How an asset is created

The normal way to create an asset is through Manual Entry:

1. Enter the purchase as an expense.
2. Choose the Depreciation category (1 | Depreciation).
3. Enter the asset description, useful life, and asset type.
4. Save the entry.

Simple-C creates the expense, asset record, and depreciation references together. If the asset is a vehicle and you select the vehicle option, Simple-C can also create the matching vehicle record.

Use your accountant or tax preparer’s policy to decide whether a purchase should be treated as a depreciable asset. Simple-C organizes the record; it does not determine tax eligibility.

Open the Assets area

1. Select the business in the header.
2. Open Expenses → Entries.
3. Choose Assets.

The list shows:

• Business
• Description
• Acquisition date
• Acquisition cost
• Useful life
• Whether a related depreciation expense exists
• Available actions

Use the business selector in the header to switch contexts. If no business is selected, the page asks you to choose one before loading assets.

Edit an asset

Select Edit on an asset row. The edit screen shows the business, acquisition cost, useful life, acquisition date, and reference years.

Only the Description is editable from this screen. The financial fields remain read-only because they are tied to the original expense and depreciation data. Update the description and select Update.

If you opened the asset from the Depreciation report, the breadcrumb includes a link back to that report with its filters preserved.

Understand the depreciation indicator

The Has Expense? column tells you whether the asset is connected to depreciation data.

• Yes — the asset has linked depreciation information. Open the indicator to review its reference years.
• No — the asset has no linked depreciation schedule.

Assets with linked depreciation cannot be deleted from the Assets list. This protects the relationship between the asset, expense, and reports.

Delete an unlinked asset

The Delete action appears only when an asset does not have a depreciation link.

1. Confirm that the asset was created in error and is not needed for reporting.
2. Select Delete.
3. Confirm the browser prompt.

If the action is unavailable, do not try to remove the related expense as a workaround. Review the asset with your preparer and correct it through the appropriate expense or depreciation workflow.

Record a disposition

Use the Disposition view when an asset is sold, retired, or otherwise removed from service.

1. Open the Assets disposition view.
2. Find the active asset.
3. Select Dispose.
4. Enter the required Disposition date.
5. Enter the Amount received, if any.
6. Add optional notes.
7. Confirm the disposition.

The row changes from Active to Disposed. A disposed asset remains in the system so its history is preserved.

Restore a disposed asset

If a disposition was recorded by mistake, find the disposed asset and select Restore. Confirm the prompt. The status returns to Active.

Restoring removes the disposition state; it does not change the acquisition or depreciation details.

Year-end review

At year-end:

1. Review active and disposed assets.
2. Confirm descriptions are specific enough to identify each item.
3. Run the Assets report for acquisitions.
4. Run the Depreciation report for annual depreciation.
5. Share both with your preparer and call out any disposals.