Fixed Asset Management in Odoo#
Fixed assets - equipment, vehicles, computers - are capitalized and depreciated over their useful life. Odoo's Fixed Assets module automates the depreciation schedule and posts monthly entries without manual calculation.
Prerequisites#
Accounting → Configuration → Settings → enable Fixed Assets.
Asset Categories#
Accounting → Configuration → Asset Categories → New:
- Office Equipment:
- Depreciation Method: Straight Line
- Duration: 5 years (60 months)
- Asset Account: 1200 Fixed Assets
- Depreciation Account: 6800 Depreciation Expense
- Accumulated Depreciation Account: 1299 Accumulated Depreciation
- Vehicles:
- Depreciation Method: Declining Balance (coefficient: 2)
- Duration: 4 years
- Accounts: per chart of accounts
Creating an Asset from a Vendor Bill#
When you post a vendor bill for a capital expenditure:
- On the bill line, set the account to the Asset account (1200)
- Odoo prompts: "Create Asset?" → Yes
- Odoo creates an asset record pre-filled with:
- Name from bill description
- Amount from bill line
- Purchase date from bill date
- Category from the configured default
Depreciation Schedule#
Accounting → Assets → [Asset]:
- Depreciation Board tab: full schedule showing:
- Monthly depreciation amount
- Accumulated depreciation
- Net book value at each period end
Example: Laptop, $2,400, 3-year straight-line:
- Monthly depreciation: $2,400 / 36 = $66.67
- After 12 months: Accumulated $800, NBV $1,600
- After 36 months: Accumulated $2,400, NBV $0 (fully depreciated)
Posting Depreciation Entries#
Accounting → Assets → [Asset] → Compute Depreciation → Post All Entries:
Or use the scheduled action: Accounting → Configuration → Settings → Automatically Post Depreciation:
- Odoo posts depreciation entries automatically on the first day of each month
- Journal: Depreciation Journal
- Entry: Debit Depreciation Expense, Credit Accumulated Depreciation
Asset Disposal#
When an asset is sold or scrapped:
Accounting → Assets → [Asset] → Dispose:
- Odoo posts:
- Debit Accumulated Depreciation (clears the account)
- Debit Loss on Disposal (if sale price < NBV)
- Credit Fixed Asset account (removes the asset from the balance sheet)
- Credit Gain on Disposal (if sale price > NBV)
Asset Register Report#
Accounting → Reporting → Assets Report:
- All assets with purchase cost, accumulated depreciation, and current NBV
- This is the audit trail for the fixed assets balance sheet line