Fixed Asset Journals

Overview

Fixed Asset Journal can be used to manage the acquisition, depreciation, and disposal of fixed assets.

Acquisition Fixed Asset Journals

Navigate to the Fixed Asset Journal. Then, click New to create a new record.

Populate the following fields:

• Posting Date

• Description (optional)

Then, click Save to save the record.

Click New to enter a new Fixed Asset Journal Line.

Populate the following fields:

• Fixed Asset

• Transaction Type with Acquisition

• Amount

• Balance GL Account (this is the GL Account that you used proceeds to acquire the fixed asset)

Click Post to post the Fixed Asset Journal.

Fixed Asset Ledger Entries and GL Entries are created.

Calculate Depreciation

Navigate to the Fixed Assets list. Select fixed assets, then click the Calculate Depreciation button.

Month End Date defaults to the previous month's last date and can be changed.

Click the Calculate Depreciation button.

• One Fixed Asset Journal is created per GL Ledger.

• The New Depreciation Amount is calculated as:

  Depreciation from the Depreciation Start Date through the Month End Date,
  minus any depreciation amounts previously posted.

• If depreciation was not calculated in prior months and those months are already closed, the current month’s depreciation will automatically catch up and include the missed amounts.

• If the Depreciation Start Date falls in the middle of a month, GoldFinch will round to a full month.

  Example:

  • Depreciation Start Date: 12/15/2025

  • Month End Date: 02/28/2026

  • Depreciation is calculated for 3 full months

• In some cases, you may want to change the Number of Depreciation Years while keeping the same depreciation amount.
  To do this, you can manually update the Depreciation Adjustment Amount on the Fixed Asset record.

• GoldFinch automatically ensures that the calculated Depreciation Amount will never exceed the Remaining Amount of the fixed asset.

Disposal of a Fixed Asset

Create a new Fixed Asset Journal.

Select Proceeds on Disposal as the Transaction Type on the Fixed Asset Journal Line.

Populate the following fields:

• Amount (this is the actual proceeds amount)

• Balance GL Account (this is the GL Account that you receive proceeds into)

Post the Fixed Asset Journal.

GoldFinch calculates Fixed Asset Gain/Loss by comparing the Remaining Amount on the fixed asset and the Proceeds on Disposal amount.

Review Fixed Asset Amounts

GoldFinch maintains the following 5 amount fields on the fixed asset page:

• Acquisition Amount (must always be positive)

• Depreciation Amount (must always be negative)

• Proceeds on Disposal (must always be negative)

• Gain/Loss Amount (negative amount is loss, and positive amount is gain)

• Remaining Amount (must always be positive or 0)

Article Fixed-Asset-Journals  ·  Last updated December 09, 2025 · GoldFinch ERP Help Center