What is a fixed-asset register (depreciation schedule), what goes in it, and how do I keep it accurate and up to date?

What a fixed-asset register is and how it ties to your books

The fixed asset register is a detailed listing of every fixed asset a business has acquired or built. (jurisdiction: United States (US-based CPE publisher; the article itself names no jurisdiction), entity_scope: Businesses that acquire or build fixed assets)

“The fixed asset register is a detailed listing of every fixed asset that has been acquired or built by a business.”

Whichever depreciation method is used there will be a monthly depreciation charge, entered as a debit to depreciation expense and a credit to accumulated depreciation, and the accumulated depreciation balance is paired with the fixed asset account balance to give a reduced asset balance. (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Businesses depreciating fixed assets)

“No matter which depreciation method is used, there will be a monthly depreciation charge, for which the entry is a debit to depreciation expense and a credit to accumulated depreciation . The balance in the accumulated depreciation account is paired with the amount in the fixed asset account, resulting in a reduced asset balance.”

As a recommended practice, the fixed asset subledger should be reconciled to the general ledger by regular reconciliations confirming that asset balances in the detailed register agree with the general ledger totals; the article states the cadence only as “regular”. (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Organizations maintaining a fixed asset subledger, conditions: presented as one of a number of enhancements that “can be made” to fixed asset recordkeeping (“Consider the following options”); cadence stated only as “regular”; no interval specified)

“Reconcile the fixed asset subledger to the general ledger . Perform regular reconciliations to confirm that asset balances in the detailed register agree with the general ledger totals.”

Partly established. Established: what the register is (S01). Missing: that the register is the detail behind the asset cost and accumulated depreciation control accounts; that the register and the control accounts must agree.

Required authority: authoritative professional or accounting standard. Highest achieved: high quality professional secondary reference, official platform documentation.

What the register holds and how it backs the asset and accumulated depreciation accounts

See The fixed asset register is a detailed listing of every fixed asset a business has acquired or built.

See Whichever depreciation method is used there will be a monthly depreciation charge, entered as a debit to depreciation expense and a credit to accumulated depreciation, and the accumulated depreciation balance is paired with the fixed asset account balance to give a reduced asset balance.

The fixed asset register should be reconciled to the general ledger at least monthly or quarterly, with the choice depending on transaction volume and risk. (jurisdiction: United States (US-based CPE publisher; the article itself names no jurisdiction), entity_scope: Businesses maintaining a fixed asset register, conditions: cadence stated as depending on transaction volume and risk)

“The fixed asset register should be reconciled to the general ledger at least monthly or quarterly, depending on transaction volume and risk.”

As a recommended recordkeeping practice, a detailed fixed asset register should be maintained recording each asset’s description, acquisition date, cost, location, responsible department and accumulated depreciation, to create a complete audit trail. (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Organizations maintaining fixed asset records, conditions: presented as one of a number of enhancements that “can be made” to fixed asset recordkeeping (“Consider the following options”))

“Maintain a detailed fixed asset register . Record each asset’s description, acquisition date, cost, location, responsible department, and accumulated depreciation to create a complete audit trail.”

Partly established. Established: what a fixed-asset register is expected to contain (S06, S07); the cadence on which the register is expected to be reviewed and agreed to those control accounts (S05). Missing: how the register functions as subsidiary detail supporting the asset and accumulated depreciation control accounts under the applicable accounting framework; how the register carries assets fully depreciated but still in use; how the register carries items charged to the period under a capitalization policy that the business still tracks for control; how the register carries assets whose cost is shared across locations or jobs.

Required authority: authoritative professional or accounting standard. Highest achieved: high quality professional secondary reference, official platform documentation.

What each asset line has to carry

See As a recommended recordkeeping practice, a detailed fixed asset register should be maintained recording each asset’s description, acquisition date, cost, location, responsible department and accumulated depreciation, to create a complete audit trail.

The information in a fixed asset register typically includes, among other items, asset name, a unique asset identification number, asset cost, asset location, the responsible manager or department, asset class, useful life, salvage value, accumulated impairment charges, current carrying amount, accumulated depreciation for the asset, and the depreciation method used; the list is given as typical and is not stated to be complete. (jurisdiction: United States (US-based CPE publisher; the article itself names no jurisdiction), entity_scope: Fixed asset registers maintained by businesses, conditions: listed as items typically included; the source does not present the list as exhaustive)

“The information contained within this register typically includes the following items: Asset name Unique asset identification number Asset cost Asset location Responsible manager or department Asset class assigned to the asset Useful life assigned to the asset Salvage value assigned to the asset Accumulated impairment charges Current carrying amount Accumulated depreciation associated with the asset Depreciation method used to depreciate the asset”

In the sample record-creation procedure, the asset record carries the manufacturer-provided serial number on the equipment; if it cannot be found the manufacturer is contacted to learn where it should be located, and if there is none the entry “No Serial Number” is used. (jurisdiction: United States (publisher AccountingTools, Inc. is a U.S. accounting CPE provider; the article itself states no jurisdiction and describes company-level procedures rather than jurisdiction-specific requirements), entity_scope: A business creating fixed asset records; the article states this sample procedure is intended for the recordation of a manufacturing asset and may need adjustment)

“Enter serial number . Enter the manufacturer-provided serial number on the equipment. If you cannot find the serial number, contact the manufacturer to find out where it should be located. If there is no serial number, enter “No Serial Number.””

In the sample record-creation procedure, the asset record notes the asset's location — where possible at least by building and preferably by room, and, for an asset in the production area, the work center in which it is located. (jurisdiction: United States (publisher AccountingTools, Inc. is a U.S. accounting CPE provider; the article itself states no jurisdiction and describes company-level procedures rather than jurisdiction-specific requirements), entity_scope: A business creating fixed asset records; the article states this sample procedure is intended for the recordation of a manufacturing asset and may need adjustment)

“Note asset location . Note the location of the asset. Where possible, specify the location at least by building, and preferably by room. If it is located in the production area, specify the work center in which it is located.”

A fixed asset record in Zoho Books carries a Serial Number field, entered for internal use. (jurisdiction: United States (Zoho Books US edition help documentation, US-EN, /us/books/help/), entity_scope: Businesses using a Zoho Books organization with the Fixed Assets module enabled, platform: Zoho Books, platform_edition: Zoho Books US (US-EN) help documentation; Fixed Assets listed under Available Plans: Premium, Elite, Ultimate, conditions: Fixed Assets option enabled in Settings > Preferences > General; Available Plans stated on the page: Premium, Elite, Ultimate)

“Serial Number Enter the serial number for the fixed asset for internal use.”

Not established from an authoritative source.

Required authority: authoritative professional or accounting standard, primary regulator or government. Highest achieved: high quality professional secondary reference, official platform documentation.

The records behind the depreciation you claim and the basis on a later sale

Not established from an authoritative source.

Required authority: primary regulator or government. Highest achieved: high quality professional secondary reference.

What your accounting platform does for you, and what it leaves to you

Intuit states that the app automates managing and tracking fixed assets, calculating book depreciation, and generating reports. (jurisdiction: United States (en-US QuickBooks Online support site; examples denominated in US $), entity_scope: Businesses using the app to track fixed assets, platform: QuickBooks Online Advanced; Intuit Enterprise Suite, platform_edition: US (en-US) article edition, Updated 8/5/2026, accounting_basis: book depreciation)

“The app automates how you manage and track your fixed assets, calculate book depreciation, and generate reports.”

Intuit says it is important to cross-verify the app-calculated accumulated depreciation amount against the business’s existing records, and that where there is a discrepancy the business will need to make an adjusting entry to help ensure the books align with the calculated depreciation. (jurisdiction: United States (en-US QuickBooks Online support site; examples denominated in US $), entity_scope: Businesses using the app to track fixed assets, platform: QuickBooks Online Advanced; Intuit Enterprise Suite, platform_edition: US (en-US) article edition, Updated 8/5/2026, conditions: Applies to the accumulated depreciation the app calculates for assets with prior depreciation)

“Note : It’s important to cross-verify this calculated amount with your existing records. If there’s a discrepancy, you’ll need to make an adjusting entry to help ensure your books align with the calculated depreciation.”

Zoho Books allows the user to record fixed assets and automatically calculates depreciation for them. (jurisdiction: United States (Zoho Books US edition help documentation, US-EN, /us/books/help/), entity_scope: Businesses using a Zoho Books organization with the Fixed Assets module enabled, platform: Zoho Books, platform_edition: Zoho Books US (US-EN) help documentation; Fixed Assets listed under Available Plans: Premium, Elite, Ultimate, conditions: Fixed Assets option enabled in Settings > Preferences > General; Available Plans stated on the page: Premium, Elite, Ultimate)

“Zoho Books now allows you to record fixed assets and automatically calculate depreciation for them.”

The Fixed Asset Register report in Zoho Books displays the list of fixed assets recorded in the organization. (jurisdiction: United States (Zoho Books US edition help documentation, US-EN, /us/books/help/), entity_scope: Businesses using a Zoho Books organization with the Fixed Assets module enabled, platform: Zoho Books, platform_edition: Zoho Books US (US-EN) help documentation; Fixed Assets listed under Available Plans: Premium, Elite, Ultimate, conditions: Fixed Assets option enabled in Settings > Preferences > General; Available Plans stated on the page: Premium, Elite, Ultimate)

“The list of fixed assets recorded in your organization will be displayed.”

Not established from an authoritative source.

The routine that keeps the register current

See The fixed asset register should be reconciled to the general ledger at least monthly or quarterly, with the choice depending on transaction volume and risk.

As a recommended practice, assets should be entered into the accounting system as soon as they are placed in service, so depreciation begins in the correct reporting period. (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Organizations acquiring fixed assets, conditions: presented as one of a number of enhancements that “can be made” to fixed asset recordkeeping (“Consider the following options”))

“Record assets promptly upon acquisition . Enter assets into the accounting system as soon as they are placed in service to ensure that depreciation begins in the correct reporting period.”

In the article's interdepartmental transfer procedure, a form identifying the asset being transferred out of a department is completed; it should include the unique asset tag number and a general description of the asset, and the transferring department's manager signs it to acknowledge that the asset is to be shifted elsewhere. (jurisdiction: United States (publisher AccountingTools, Inc. is a U.S. accounting CPE provider; the article itself states no jurisdiction and describes company-level procedures rather than jurisdiction-specific requirements), entity_scope: Businesses whose fixed assets are routinely shifted between departments)

“Complete a form identifying which asset is being transferred out of a department. This should include the unique asset tag number and a general description of the asset. The manager of this department signs the form to acknowledge that the asset is to be shifted elsewhere.”

In the article's interdepartmental transfer procedure, the completed form goes to the fixed asset accountant, who accesses the asset record in the accounting system, assigns the asset to the receiving department, and shifts the related depreciation charge to that department. (jurisdiction: United States (publisher AccountingTools, Inc. is a U.S. accounting CPE provider; the article itself states no jurisdiction and describes company-level procedures rather than jurisdiction-specific requirements), entity_scope: Businesses whose fixed assets are routinely shifted between departments)

“Forward the form to the fixed asset accountant, who accesses the asset record in the accounting system and assigns the asset to the receiving department. The accountant also shifts the related depreciation charge to the receiving department.”

When a user in the company adds an expense transaction to the books, the app automatically creates a fixed asset draft if it recognizes the transaction as an asset category, and the user or an accountant can review that draft and either approve or discard it. (jurisdiction: United States (en-US QuickBooks Online support site; examples denominated in US $), entity_scope: Businesses using the app to track fixed assets, platform: QuickBooks Online Advanced; Intuit Enterprise Suite, platform_edition: US (en-US) article edition, Updated 8/5/2026, conditions: Only where the app recognizes the expense transaction as an asset category)

“When you or another user in your company adds an expense transaction to the books, if the app recognizes it as an asset category, we’ll automatically create a draft for a fixed asset. You or an accountant can review the draft, and either approve or discard it.”

Partly established. Established: how additions reach the register from the purchase workflow (S19); how transfers are captured (S17, S18); on what cadence the register is reviewed and tied to the control accounts (S05). Missing: how custodian changes are captured; how disposals are recorded when they happen rather than at year end.

Required authority: authoritative professional or accounting standard, official platform documentation. Highest achieved: high quality professional secondary reference, official platform documentation.

Who keeps the register and who checks it

See In the article's interdepartmental transfer procedure, the completed form goes to the fixed asset accountant, who accesses the asset record in the accounting system, assigns the asset to the receiving department, and shifts the related depreciation charge to that department.

In the sample record-creation procedure, a new record is created for the asset and given the next sequential record number; in a computer system the software assigns that number, and otherwise the fixed asset accountant assigns it. (jurisdiction: United States (publisher AccountingTools, Inc. is a U.S. accounting CPE provider; the article itself states no jurisdiction and describes company-level procedures rather than jurisdiction-specific requirements), entity_scope: A business creating fixed asset records; the article states this sample procedure is intended for the recordation of a manufacturing asset and may need adjustment)

“Create record . Create a new record for the asset and assign the next sequential record number to it. If being recorded in a computer system, the software will assign the record number. If not, the fixed asset accountant will do so.”

In the sample record-creation procedure, the controller reviews and approves the asset file, and issues the reviewer notes are corrected. (jurisdiction: United States (publisher AccountingTools, Inc. is a U.S. accounting CPE provider; the article itself states no jurisdiction and describes company-level procedures rather than jurisdiction-specific requirements), entity_scope: A business creating fixed asset records; the article states this sample procedure is intended for the recordation of a manufacturing asset and may need adjustment)

“Approve record . Have the controller review and approve the file. Correct any issues noted by the reviewer.”

As a recommended practice, responsibility for major assets should be assigned to departments or individuals, and asset locations and custodians tracked, so equipment can be easily located and monitored. (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Organizations maintaining fixed asset records, conditions: presented as one of a number of enhancements that “can be made” to fixed asset recordkeeping (“Consider the following options”))

“Track asset locations and custodians . Assign responsibility for major assets to departments or individuals so that equipment can be easily located and monitored.”

A fixed asset draft can be created manually, and the user or an accountant can review it and either approve or discard it. (jurisdiction: United States (en-US QuickBooks Online support site; examples denominated in US $), entity_scope: Businesses using the app to track fixed assets, platform: QuickBooks Online Advanced; Intuit Enterprise Suite, platform_edition: US (en-US) article edition, Updated 8/5/2026)

“You can manually create a draft for a fixed asset. You or an accountant can review the draft, and either approve or discard it.”

Not established from an authoritative source.

Required authority: authoritative professional or accounting standard. Highest achieved: high quality professional secondary reference.

Recognised practice for physically verifying the assets

In addition to the reconciliation, an annual physical inventory of assets should be performed to verify the existence and condition of the assets. (jurisdiction: United States (US-based CPE publisher; the article itself names no jurisdiction), entity_scope: Businesses maintaining a fixed asset register)

“An annual physical inventory of assets should also be performed to verify existence and condition.”

As a recommended practice, regular physical inventories of assets should be conducted — periodic counts and inspections verifying that recorded assets still exist and are in usable condition. The article states the cadence only as “regular”/“periodic” and does not name an interval or who performs the count. (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Organizations maintaining fixed asset records, conditions: presented as one of a number of enhancements that “can be made” to fixed asset recordkeeping (“Consider the following options”); cadence stated only as “regular”/“periodic”; no interval, performer or two-directional coverage specified)

“Conduct regular physical inventories of assets . Perform periodic counts and inspections to verify that recorded assets still exist and are in usable condition.”

As a recommended practice, each asset should be tagged with a barcode or identification number linking it to the fixed asset register, which improves tracking and inventory control. (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Organizations maintaining fixed asset records, conditions: presented as one of a number of enhancements that “can be made” to fixed asset recordkeeping (“Consider the following options”))

“Assign unique asset identification numbers . Tag each asset with a barcode or identification number that links to the fixed asset register, improving tracking and inventory control.”

As a recommended practice, differences between the physical inventory and the fixed asset register should be reviewed promptly to identify theft, loss or recordkeeping errors. (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Organizations maintaining fixed asset records, conditions: presented as one of a number of enhancements that “can be made” to fixed asset recordkeeping (“Consider the following options”))

“Investigate and resolve asset discrepancies . Promptly review differences between the physical inventory and the fixed asset register to identify theft, loss, or recordkeeping errors.”

Partly established. Established: the cadence of the physical verification (S25). Missing: who performs the periodic physical verification of fixed assets; the two-directional coverage of the physical verification; the working evidence the physical verification should produce; how long that working evidence is expected to be kept; who is expected to maintain the register; who is expected to review the register; why the recording of asset movements and their verification are expected to rest with different people; what compensating control is recognised where a business is too small to separate those roles.

Required authority: authoritative professional or accounting standard. Highest achieved: high quality professional secondary reference.

Planning and running the physical check

See In addition to the reconciliation, an annual physical inventory of assets should be performed to verify the existence and condition of the assets.

See As a recommended practice, regular physical inventories of assets should be conducted — periodic counts and inspections verifying that recorded assets still exist and are in usable condition. The article states the cadence only as “regular”/“periodic” and does not name an interval or who performs the count.

See As a recommended practice, each asset should be tagged with a barcode or identification number linking it to the fixed asset register, which improves tracking and inventory control.

See As a recommended practice, differences between the physical inventory and the fixed asset register should be reviewed promptly to identify theft, loss or recordkeeping errors.

Partly established. Established: how each item is identified in the field (S27). Missing: the scope of the physical verification; the cut-off of the physical verification; who counts; the requirement to test from the register to the floor; the requirement to test from the floor to the register.

Required authority: authoritative professional or accounting standard. Highest achieved: high quality professional secondary reference.

What the count record has to show to be evidence

Not established from an authoritative source.

When an asset cannot be found

See As a recommended practice, responsibility for major assets should be assigned to departments or individuals, and asset locations and custodians tracked, so equipment can be easily located and monitored.

See As a recommended practice, differences between the physical inventory and the fixed asset register should be reviewed promptly to identify theft, loss or recordkeeping errors.

Whenever a fixed asset audit reveals that a fixed asset was transferred without the accompanying paperwork, the fixed asset accountant should follow up with the two department managers, the follow-up being intended to remind them of the need for supporting paperwork. (jurisdiction: United States (publisher AccountingTools, Inc. is a U.S. accounting CPE provider; the article itself states no jurisdiction and describes company-level procedures rather than jurisdiction-specific requirements), entity_scope: Businesses whose fixed assets are routinely shifted between departments, conditions: Where a fixed asset audit reveals a transfer made without the accompanying paperwork)

“In addition, the fixed asset accountant should follow up with the two department managers whenever a fixed asset audit reveals that a fixed asset was transferred without the accompanying paperwork. This follow up is intended to remind the managers of the need for supporting paperwork.”

Partly established. Established: a suspected loss or theft as an explanation for an asset that cannot be found (S28). Missing: an unrecorded disposal as an explanation for an asset that cannot be found; a transfer or off-site location as an explanation for an asset that cannot be found; an asset held by an employee as an explanation for an asset that cannot be found; that the explanation must be investigated before the register is changed.

Required authority: authoritative professional or accounting standard. Highest achieved: high quality professional secondary reference.

Authorising a write-off, and adding an asset you find in use

See As a recommended practice, differences between the physical inventory and the fixed asset register should be reviewed promptly to identify theft, loss or recordkeeping errors.

Writing off a fixed asset in Zoho Books requires selecting a Write Off Date, the date on which the asset is written off. (jurisdiction: United States (Zoho Books US edition help documentation, US-EN, /us/books/help/), entity_scope: Businesses using a Zoho Books organization with the Fixed Assets module enabled, platform: Zoho Books, platform_edition: Zoho Books US (US-EN) help documentation; Fixed Assets listed under Available Plans: Premium, Elite, Ultimate, conditions: Fixed Assets option enabled in Settings > Preferences > General; Available Plans stated on the page: Premium, Elite, Ultimate)

“Write Off Date Select the date on which you want to write off the fixed asset.”

Writing off a fixed asset in Zoho Books includes entering a Reason for the write-off. (jurisdiction: United States (Zoho Books US edition help documentation, US-EN, /us/books/help/), entity_scope: Businesses using a Zoho Books organization with the Fixed Assets module enabled, platform: Zoho Books, platform_edition: Zoho Books US (US-EN) help documentation; Fixed Assets listed under Available Plans: Premium, Elite, Ultimate, conditions: Fixed Assets option enabled in Settings > Preferences > General; Available Plans stated on the page: Premium, Elite, Ultimate)

“Reason Enter the reason to write off the fixed asset.”

A deleted fixed asset cannot be retrieved, and Intuit recommends using the delete option with caution and only when necessary. (jurisdiction: United States (en-US QuickBooks Online support site; examples denominated in US $), entity_scope: Businesses using the app to track fixed assets, platform: QuickBooks Online Advanced; Intuit Enterprise Suite, platform_edition: US (en-US) article edition, Updated 8/5/2026)

“Note : Once you delete a fixed asset, you can't retrieve it. Therefore, we recommend you use the delete option with caution and only when necessary.”

Not established from an authoritative source.

Required authority: authoritative professional or accounting standard. Highest achieved: high quality professional secondary reference, official platform documentation.

Correcting the register after the count

See As a recommended practice, differences between the physical inventory and the fixed asset register should be reviewed promptly to identify theft, loss or recordkeeping errors.

See A deleted fixed asset cannot be retrieved, and Intuit recommends using the delete option with caution and only when necessary.

After the write-off is confirmed the fixed asset’s status in Zoho Books changes to Written Off. (jurisdiction: United States (Zoho Books US edition help documentation, US-EN, /us/books/help/), entity_scope: Businesses using a Zoho Books organization with the Fixed Assets module enabled, platform: Zoho Books, platform_edition: Zoho Books US (US-EN) help documentation; Fixed Assets listed under Available Plans: Premium, Elite, Ultimate, conditions: Fixed Assets option enabled in Settings > Preferences > General; Available Plans stated on the page: Premium, Elite, Ultimate)

“The fixed asset’s status will be changed to Written Off .”

Only fixed assets marked as Draft or Canceled can be deleted in Zoho Books; once a fixed asset is marked as active it cannot be deleted. (jurisdiction: United States (Zoho Books US edition help documentation, US-EN, /us/books/help/), entity_scope: Businesses using a Zoho Books organization with the Fixed Assets module enabled, platform: Zoho Books, platform_edition: Zoho Books US (US-EN) help documentation; Fixed Assets listed under Available Plans: Premium, Elite, Ultimate, conditions: Fixed Assets option enabled in Settings > Preferences > General; Available Plans stated on the page: Premium, Elite, Ultimate)

“Note: You can only delete the assets that are marked as Draft and Canceled . Once you mark a fixed asset as active, you will not be able to delete it.”

Not established from an authoritative source.

Required authority: authoritative professional or accounting standard. Highest achieved: official platform documentation.

The lines that make registers wrong over time

A fixed asset is property usable for an extended period in business operations, with a useful life spanning multiple reporting periods and a cost exceeding a certain minimum limit called the capitalization limit; the article gives buildings, machinery, vehicles and equipment as common examples (an open, non-exhaustive list). (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Businesses holding property used in operations)

“A fixed asset is property that can be used for an extended period of time in business operations. Common examples include buildings, machinery, vehicles, and equipment. It has a useful life that spans multiple reporting periods, and whose cost exceeds a certain minimum limit (called the capitalization limit ).”

A production business might elect to record tool costs in a separate classification, but only where there is a substantial investment in tools; lower-cost tools may be charged to expense as incurred. (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Production businesses, conditions: separate classification only where there is a substantial investment in tools)

“Tools . A production business might elect to record the cost of its tools within a separate classification, though only if there is a substantial investment in tools. Lower-cost tools may be charged to expense as incurred.”

The Fixed Asset Register report shows a Status field displaying the asset’s current status, including Active, Fully Depreciated, Written Off or Sold. (jurisdiction: United States (Zoho Books US edition help documentation, US-EN, /us/books/help/), entity_scope: Businesses using a Zoho Books organization with the Fixed Assets module enabled, platform: Zoho Books, platform_edition: Zoho Books US (US-EN) help documentation; Fixed Assets listed under Available Plans: Premium, Elite, Ultimate, conditions: Fixed Assets option enabled in Settings > Preferences > General; Available Plans stated on the page: Premium, Elite, Ultimate)

“Status This field displays the current status of the asset, including Active, Fully Depreciated, Written Off, or Sold.”

Not established from an authoritative source.

Required authority: authoritative professional or accounting standard. Highest achieved: official platform documentation.

What to keep, and how to hand it over

As a recommended practice, supporting documentation — invoices, contracts, disposal records and appraisal reports — should be retained to support asset valuations and facilitate audits; the article names no retention period. (jurisdiction: United States (US GAAP-oriented general guidance from a US publisher; AccountingTools/Steven Bragg), entity_scope: Organizations maintaining fixed asset records, conditions: presented as one of a number of enhancements that “can be made” to fixed asset recordkeeping (“Consider the following options”); no retention period stated)

“Retain supporting documentation . Maintain invoices, contracts, disposal records, and appraisal reports to support asset valuations and facilitate audits.”

In the article's basic depreciation procedure, the depreciation report is attached to the journal entry form and filed in the journal entries binder as backup. (jurisdiction: United States (publisher AccountingTools, Inc. is a U.S. accounting CPE provider; the article itself states no jurisdiction and describes company-level procedures rather than jurisdiction-specific requirements), entity_scope: Businesses that depreciate fixed assets by asset class)

“File backup materials . Attach the depreciation report to the journal entry form and file it in the journal entries binder.”

In the sample record-creation procedure, where the information is recorded in an entirely manual system the record is stored in the fixed asset record files by asset class and then by record number. (jurisdiction: United States (publisher AccountingTools, Inc. is a U.S. accounting CPE provider; the article itself states no jurisdiction and describes company-level procedures rather than jurisdiction-specific requirements), entity_scope: A business creating fixed asset records; the article states this sample procedure is intended for the recordation of a manufacturing asset and may need adjustment, conditions: Where information is recorded in an entirely manual system)

“Store the record . If the information is recorded in an entirely manual system , store it by asset class and then by record number in the fixed asset record files.”

Among the information a subaward is required to include is a requirement that the subrecipient permit the pass-through entity and auditors to access the subrecipient's records and financial statements, so that the pass-through entity can fulfill its monitoring requirements. (jurisdiction: United States - Federal (2 CFR part 200, OMB Guidance), entity_scope: Pass-through entities and their subrecipients under a Federal award subject to 2 CFR part 200, conditions: Applies to a subaward made by a pass-through entity under a Federal award; Access is framed as being for the pass-through entity to fulfill its monitoring requirements; One item in an open list introduced by 'Required information includes')

“(5) A requirement that the subrecipient permit the pass-through entity and auditors to access the subrecipient’s records and financial statements for the pass-through entity to fulfill its monitoring requirements; and”

The Fixed Asset List and Fixed Asset Depreciation Detail reports do not have a Save option. (jurisdiction: United States (en-US QuickBooks Online support site; examples denominated in US $), entity_scope: Businesses using the app to track fixed assets, platform: QuickBooks Online Advanced; Intuit Enterprise Suite, platform_edition: US (en-US) article edition, Updated 8/5/2026)

“Note : Fixed Asset list and Fixed Asset Depreciation Detail reports don't have a Save option.”

Not established from an authoritative source.

Required authority: authoritative professional or accounting standard, primary regulator or government. Highest achieved: high quality professional secondary reference.