Asset Management In Odoo

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Published in Blog on January 27, 2017 2 min read
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Asset management is a systematic process of deploying operating, maintaining, upgrading, and disposing of assets cost effectively. Odoo supports Asset Management. In Odoo the "Assets" module allows you to keep track of your fixed assets like Land & Building , Machinery etc. Thus, the module helps you to compute depreciation entries automatically.

How to Manage your fixed asset?

Step 1: Install the Asset Management module.

Install the Asset Management module in Asset Management In Odoo

OR

Activate Asset Management.

Select Accounting > Settings > Accounting &Finance  >Features > Select  Asset management.

Activate Asset Management In Odoo

Step 3: Create Asset type.

(Asset types are used for configure all information about an assets )

Select Accounting menu > Configuration > Management > Asset Type > Create

Create Asset type for Asset Management In Odoo

  • Firstly, choose asset type.
  • Set Asset & Depreciation of  journal accounts.
  • Select Depreciation computation method.

In addition, depreciation computation method have two type Linear & Digressive.

Linear:  In the depreciation method charges cost evenly throughout the useful life of a fixed asset.

        Depreciation per annum= Gross value - Salvage value

                                                                 Useful life
Digressive: In the depreciation method calculated on the basis of Residual value.

       
        Depreciation per annum= Residual value * Degressive factor
 
  • Set Calculation period of Depreciation.

Step 4:  Creation of Asset & computation of depreciation.

Select Accounting > Adviser > Asset > Create.

Creation of Asset & computation of depreciation

Once your asset is created, don't forget to Confirm it. You can also click on the Compute Depreciation button to check the depreciation board before confirming the asset.

As a result, you can Create Assets Automatically from a supplier bill.

Accounting > Purchase > vendor bill > Create.

Create Assets Automatically from a supplier bill

Moreover, Odoo will create depreciation journal entries automatically at the right date for every confirmed asset.

depreciation journal entries

 

 

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