Asset Management
Track every fixed asset from acquisition to disposal. Automated depreciation, impairment testing, and audit-ready schedules - all connected to your ledger.
Key Capabilities
Full lifecycle asset control
Fixed Asset Register
Maintain a comprehensive register of every capitalised asset with purchase date, cost, location, custodian, and tag number. Search, filter, and export the register for audit or insurance purposes.
Depreciation Methods
Support for Straight Line Method (SLM) and Written Down Value (WDV) as prescribed by the Companies Act and Income Tax Act. Configure useful life, residual value, and depreciation start date per asset or asset class.
Depreciation Schedules
Generate monthly or annual depreciation schedules with a single click. ThynkBooks computes the charge for each period and posts the journal entry - debit depreciation expense, credit accumulated depreciation.
Disposal & Retirement
Record asset sales, scrapping, or write-offs. ThynkBooks calculates the gain or loss on disposal, reverses the accumulated depreciation, and posts the net impact to the profit-and-loss statement.
Impairment Recording
When an asset carrying amount exceeds its recoverable amount, record an impairment loss. ThynkBooks adjusts the asset value and recalculates future depreciation based on the revised carrying amount.
Asset Transfers & Revaluation
Transfer assets between locations, departments, or entities with full audit trail. Record revaluations under Ind AS 16 with the surplus posted to the revaluation reserve in equity.
How It Works
Acquire, depreciate, dispose
Capitalise the Asset
Create a new asset from a purchase invoice or manual entry. Assign it to an asset class, set the depreciation method and useful life, and ThynkBooks begins calculating from the date placed in service.
Depreciate Automatically
Run the depreciation process monthly or on demand. ThynkBooks computes the charge for every asset, generates the journal entries, and updates the net book value in the fixed asset register.
Dispose or Retire
When an asset reaches end of life or is sold, record the disposal. ThynkBooks calculates gain or loss, closes the asset record, and posts the final journal to the General Ledger.
Integrations
Connected to your books
Depreciation journals post to the General Ledger. Asset purchases link to Accounts Payable. Tax depreciation data feeds into Tax & Compliance.
Get your asset register in order
Import your existing assets and start automated depreciation today.