Manage Assets
Your asset register is the running list of everything long-lived your business owns. From here you can find any asset, see what it's worth today, watch its value fall as depreciation is charged, and — when the time comes — record that you've sold, scrapped or written it off.
Availability depends on your plan and your role.
Finding your assets
Open the register
- Go to Finance from the sidebar
- Click Assets
The register lists every asset with its key details at a glance.
What each row shows
| Column | What it tells you |
|---|---|
| Name | What the asset is |
| Category | The grouping it belongs to (Vehicles, Plant & Machinery…) |
| Cost | What you originally paid |
| Book value | What it's worth on your books today — cost minus all depreciation charged so far |
| Location | Where the asset lives |
| State | Whether it's in use, idle, under maintenance, retired or disposed of |
Searching and filtering
- Search by name to jump straight to one asset
- Filter by category, location or state to focus the list — for example, everything at one site, or everything still in service
Understanding an asset's state
Each asset carries a state that says where it is in its own life. State is about the asset itself, not about your books.
| State | Meaning |
|---|---|
| In service | In active use |
| Idle | Owned but not currently in use |
| Under maintenance | Temporarily out of action for repair or servicing |
| Retired | Taken out of use, but still on the register |
| Disposed | Sold, scrapped or written off — kept on the register as a record |
Following an asset's value over time
Open any asset to see its full history and its value today.
- Cost — what it started at
- Depreciation charged so far — the running total of wear-and-tear taken off since the start date
- Book value — cost minus that running total: what the asset is worth on your books right now
Each period, Bizconnekt works out that period's depreciation slice for you and posts it to your books, so the book value always reflects the latest charge. You don't re-enter anything — you just watch the figure fall.
A simple picture over five years (equal slices, with a small leftover value at the end):
Year Book value at year end
──── ──────────────────────
Bought full cost
Year 1 cost drops by one slice
Year 2 drops by another slice
Year 3 drops again
Year 4 drops again
Year 5 near the leftover value ──► ready to dispose
Depreciation is charged period by period and lands in your books automatically. If you ever need to see the underlying accounting entry, you'll find it alongside your other book entries — see Manual Journal.
Disposing of an asset — sell, scrap or write off
When an asset reaches the end of its useful life, you record a disposal. This takes the asset off your register and records whether you made a gain or a loss compared with what it was still worth on your books.
The three kinds of disposal
| Kind | When to use it | Money received |
|---|---|---|
| Sale | You sold the asset to a buyer | What the buyer paid |
| Scrap | You threw it away or it's beyond use | Nothing |
| Write-off | It's lost, damaged or otherwise gone, with nothing to recover | Nothing |
How to record a disposal
- Open the asset in the register
- Choose Dispose
- Pick the kind — sale, scrap or write-off
- Enter the disposal date
- For a sale, enter what the buyer paid and where the money went — the bank account it landed in, or, if the buyer hasn't paid yet, that they still owe you
- Review the gain or loss Bizconnekt works out, and save
What Bizconnekt works out for you
When you save a disposal, Bizconnekt compares what you received against the asset's remaining book value:
- Received more than the book value → a gain
- Received less (or nothing, for scrap) → a loss
It records that gain or loss in your books, removes the asset's value from your balance sheet, and marks the asset disposed on the register. The disposal keeps a full snapshot of the figures at the moment it happened, so the record stays accurate years later when an auditor asks.
Before you can dispose
Depreciation has to be up to date first. Bizconnekt asks you to charge depreciation up to the disposal month before it will let you dispose — that way the gain or loss is measured against the asset's true current value, not a stale one. If you're stopped, bring depreciation up to date and try again.
An asset can be disposed of once. If you record a disposal by mistake, it can be reversed, which puts the asset back on the register so you can dispose of it correctly. Ask your admin or support if you need to reverse one.
Common tasks
Check what an asset is worth today
Open the asset and read its book value — cost minus all depreciation charged so far.
Find everything at one location
Filter the register by location. Useful for a stock-take or a site audit.
Hand equipment over when someone leaves
Filter by the person responsible to list everything they hold, then update each asset to its new holder.
Record the sale of an old machine
Open the asset, choose Dispose, pick sale, enter the date, what the buyer paid and where the money went, and save. Bizconnekt records the gain or loss.
Troubleshooting
Bizconnekt won't let me dispose of an asset
Depreciation must be charged up to the disposal month first, so the gain or loss is measured correctly. Bring depreciation up to date, then record the disposal.
The book value looks too high or too low
Book value is cost minus all depreciation charged so far. If it looks wrong, check the asset's depreciation settings — the method, the expected life and the start date. If depreciation is set to none, no value has been taken off at all.
I disposed of the wrong asset
A disposal can be reversed, which restores the asset to the register. Contact your admin or support to reverse it, then record the correct one.
An asset I sold is still showing on the register
That's expected — a disposed asset stays on the register as a record, marked disposed. Filter it out of your active view by state if you only want to see current assets.
Related guides
- Add an Asset — capitalise a new asset and set how it depreciates
- Assets overview — what a fixed asset is, and how depreciation works
- Manual Journal — where depreciation and disposal entries land in your books
- Bills — the supplier bill an asset is often capitalised from
Need help? Contact support at support@bizconnekt.com