A fixed is can carry different definitions and categories. Simply it is a tangible piece of property businesses use to produce income. Fixed assets examples may include a company's computers, trucks, or even desks.
Fixed assets depreciate over their estimated useful life and generate depreciation expense for the business.
In the case of the software, we have provided this feature to track your company's fixed assets. This may come in handy when readying your records for tax time and having to remember purchase dates and prices.
You can use this report in preparation of an assessor's report, or even to track the location of fixed assets.
When it comes to calculation depreciation and assigning categories for for reporting and tax purposes, we recommend talking with an accounting or tax professional.