Capital assets
How to record, manage and dispose of capital assets in FreeAgent.
Capital asset essentials
Capital asset purchases
- How to record the purchase of a capital asset when using accruals basis accounting
- How to record the purchase of a capital asset using multiple transactions
- How to record a capital asset with a long useful life
- How to record a capital asset that doesn’t depreciate
- How to record the purchase of multiple capital assets with one bank transaction if you’re on the VAT Flat Rate Scheme
- How to record the purchase of a capital asset when using cash basis accounting
Capital assets bought on hire purchase
Disposing of a capital asset
- How to sell a capital asset when using accruals basis accounting
- How to sell a capital asset when using cash basis accounting
- How to create a VAT invoice for the disposal of a capital asset
- How to scrap a capital asset when using accruals basis accounting
- How to scrap a capital asset when using cash basis accounting