General

Asset Management

Asset Management
  • Odoo’s asset management allows the user to track the fixed assets like manufacturing equipment, furniture, vehicles, land, etc. The user can purchase, sell and manage depreciation of assets using Odoo.

We can configure different asset categories in Odoo.

Create Asset Type

  • Accounting > Configuration > Management > Asset Type

Advisor level user can give the appropriate accounts for generating journal entries. He can also provide details to compute the depreciation. There are many things to provide

  • Time method based on Method to compute the depreciation date and number of depreciation lines. We have two options
  • Number of depreciation: by choosing this option we are fixing the number of depreciation and the time between two
  • Ending date: This way, instead of giving the number of depreciation. We give the date that the depreciation will not go beyond
  • Computation Methods: Here we can choose the method to be used for computing the depreciation amount. Here also we have two options
  • Auto-confirm Assets: Tick this option to auto-confirm all the assets comes under this category when they are created from the
  • Group Journal Entries: If you want to group the journal entries generated using the category, tick this

Create Asset

We can create an asset in two ways:

  • Manually
  • From Supplier Invoice

To create an asset manually,

Accounting> Advisor > Assets

 

Here we can fill the details of your asset

  • Salvage value: this is the amount you plan to have that cannot depreciate
  • Vendor: The vendor from we purchased this asset
  • Invoice: The invoice related to the purchase of this asset

An asset has three states

  • Draft
  • Running
  • Close

Once we have created an asset, we should confirm it. We can also click on the Compute Depreciation button to check the depreciation board before confirming the asset.

Then the asset will change to Running state and you can see the depreciation board

 

The red button indicates that related journal entry is not created and green bullet means that the journal entry has created for this line

You can sell or dispose the asset using the Sell or Dispose button on status bar. It will create a journal entry to post the full expense of the asset. But it won’t create a sale entry or an invoice.

To modify the depreciation of an asset, Click on the <Modify Depreciation> button and provide the values accordingly

  • Creating an asset from supplier invoice is

We just have to give the asset category. Odoo will create asset based on the data in category and invoice. If we set an asset category in the product itself, then the asset category in invoice line will be automatically selected.

The asset will be automatically confirmed if we tick the asset category option Auto-confirm Assets.

Accounting> Advisor> Generate Asset Entries, is an option to trigger the generation of asset depreciation entries

These are the basic operations associated with asset management in Odoo. Hope it was useful.

1 Comment

1 Comment

  1. Incredibly well written blog! I have learned a numkber of tips, thank you
    for blogging. When is your next blog post released?

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top