The Assets report is an inventory of every business asset acquired in a tax year, with the date and the original cost. It’s the companion to the Depreciation report — Assets shows what you bought; Depreciation shows how that cost gets expensed over time.
When to run it
- At year-end — to give your accountant a clean list of capital purchases for the year
- Pre-tax review — to make sure every fixed asset has been entered correctly
- Audit trail — to document acquisitions for IRS substantiation
Opening the report
- Open Reports from the sidebar.
- Find the Assets Report (under the Asset & Depreciation Reports group, described as “Inventory of business assets with purchase details and current value”).
- Click the card to open the report.
Choosing what to report on
At the top of the report you’ll pick:
- Business — required
- Year — required
That’s it — there’s no bank selector. The Assets report always combines all bank accounts under the selected business, since assets often span multiple accounts. There’s also no custom date range; the report covers the full year you select, based on each asset’s acquisition date.
Click Search to load the report. If you try to search without picking a business or a year, you’ll get a prompt reminding you to select one.
Note: if the selected business has no bank accounts set up, the report shows an error message (“No banks found for the given criteria.”) instead of an empty table. Pick a business that already has at least one bank account.
What the report shows
A header with the business name and EIN sits above the label All the bank accounts, followed by a period line (“January to December year”). Below it is a table grouped by acquisition month, with one row per asset. The columns are:
| Column | What it shows |
|---|---|
| Date | The acquisition date (MM/DD/YYYY) |
| Business | The business the asset belongs to |
| Provider | The provider/vendor recorded for the asset |
| Acquisition cost | The original purchase price, in USD |
Each month has a header row with the month name, followed by that month’s assets, and a Sub Total row underneath showing the month’s total. At the bottom of the table, a grand total shows the total acquisition cost of all assets acquired during the year.
If no assets were acquired in the selected year, the table shows No records found.
Important: this report shows acquisition cost (the original purchase price), not current book value or depreciated value. To see how much of that cost is being expensed each year, run the Depreciation report.
Exporting and shortcuts
Above the table you’ll find a row of buttons:
- Expenses — jump to the Manual Entry expenses view for the same business and year
- Summary — open the Summary report for the same context
- Reports — go back to the full Reports list
- Export to Excel — download an
.xlsxversion of the report (opens in a new tab) - Download — open a printable PDF version of the report (opens in a new tab)
The PDF is sized to Letter paper and includes page numbers in the footer, along with a small attribution line noting who prepared the report. The Excel and PDF exports use the same Business and Year you currently have selected.
How assets get into the report
Assets show up here when they’re entered as depreciable purchases in Manual Entry — specifically, when the expense uses the Depreciation category (shown as 1 | Depreciation in the category list) and you fill in the Asset Description, Useful Life (Years), and Asset Type. When you save that entry, Simple-C creates the asset, the expense, and the depreciation schedule together, and the asset appears on this report for the year it was acquired.
If an asset you expected isn’t in the report, double-check that it was entered as a depreciable asset (category 1) rather than as an ordinary expense.
Reviewing and editing assets
There’s a separate Assets area in Simple-C (outside of Reports) where you can manage assets directly. From there you can:
- Edit an asset’s details
- Delete an asset (not available if the asset already has a depreciation schedule attached)
- Dispose of an asset — records the disposal date, disposal amount, and notes
- Restore a disposed asset
There’s also a Disposition view that lists every asset with its status (Active or Disposed) and lets you dispose or restore from one place.
Tips
- Run the Assets report and Depreciation report together at year-end — accountants almost always want both
- Verify the Acquisition cost column before exporting; an off-by-one in the cost throws off the depreciation calculation for years to come
- Use the grand total as a quick sanity check against your books — large unexpected differences usually mean a mis-entry
- Use Export to Excel when you want to share a sortable, filterable version with your accountant; use Download (PDF) when you need something printable for your tax file
- Check the Disposition view before year-end if you sold or retired any assets during the year, so disposals are recorded in time