Classifying Assets

Assets can be classified in various ways.

Asset Types

An asset type must be assigned to each asset. These types are predefined and determine what information is applicable to the asset and how expenses are recorded. The following table summarizes the possible asset types.

Asset Type


Expenses Go To

Linked To

Building B General Ledger  
Equipment E Equipment Costing Equipment in the EM module
Land L General Ledger  
Office Equipment O General Ledger  
Property Improvements P General Ledger  
Other T General Ledger  

As shown in the table above, assets of the equipment type are treated specially. When an equipment asset is added to the database, either it is automatically linked to an existing piece of equipment with the same code, or a new piece of equipment is created.

Asset Categories

Asset categories are user defined. Besides being used to classify assets in the reports they are also used to define default properties for assets in those categories.

Equipment Classes

In addition to asset categories, equipment assets may also be classified using the equipment classes that are part of the Equipment Costing (EM) module. These classes are not used in the Fixed Asset module.

CCA Classes

CCA classes are used for the annual capital cost reporting required as part of the preparation of income tax returns.