Fixed Asset Management Overview

GoldFinch Fixed Asset Management helps organizations record, depreciate, review, and dispose of fixed assets directly within Salesforce.

Asset information, depreciation activity, supporting documentation, and General Ledger entries remain connected, giving authorized users a clear view of each asset throughout its financial lifecycle.

Key Capabilities

Fixed Asset Records

Organizations can maintain a record for each fixed asset, including relevant information such as:

• Asset description
• Asset category
• Acquisition date
• Acquisition cost
• In-service date
• Depreciation method
• Estimated useful life
• Accumulated depreciation
• Net book value
• Company and General Ledger
• Department, location, project, or other configured dimensions

The information maintained depends on the organization’s accounting policies and GoldFinch configuration.

Asset Acquisition

New assets can be recorded through Fixed Asset Journals. Acquisition activity establishes the asset’s financial value and creates the appropriate accounting entries based on the configured accounts.

Supporting documents can remain attached or linked to the relevant Salesforce records for future reference.

Depreciation

GoldFinch can calculate periodic depreciation based on the asset’s configured depreciation method, useful life, in-service date, and other applicable settings.

Authorized users can review calculated depreciation before posting it to the General Ledger.

Asset Adjustments

Organizations may need to update an asset after its initial acquisition. Depending on the circumstances and accounting policy, adjustments may address:

• Additional acquisition costs
• Corrections to asset value
• Depreciation adjustments
• Transfers between departments or locations
• Changes to relevant financial dimensions
• Other approved accounting changes

Adjustments maintain a traceable connection to the asset and related accounting activity.

Asset Disposal

When an asset is sold, retired, written off, or otherwise removed from service, GoldFinch can record the disposal and related financial impact.

The disposal process may account for:

• Original acquisition cost
• Accumulated depreciation
• Remaining net book value
• Disposal proceeds
• Gain or loss on disposal

The appropriate accounting treatment depends on the organization’s policies and configuration.

Asset Review and Reporting

Authorized users can review asset balances and activity throughout the asset lifecycle.

Available information may include:

• Acquisition cost
• Current-period depreciation
• Accumulated depreciation
• Net book value
• Asset additions and disposals
• Asset activity by company, category, department, or location
• Related General Ledger entries

Available reports depend on the organization’s configuration.

Multiple Companies and Currencies

Organizations can maintain fixed assets for multiple companies or General Ledgers. Organizations can record asset activity in the appropriate company and currency based on their accounting structure.

Connected Accounting

Posted Fixed Asset Journals generate corresponding General Ledger entries based on configured accounting rules.

This connection helps organizations maintain consistency among asset records, depreciation schedules, disposal activity, and General Ledger balances.

Visibility and Financial Control

Because Fixed Asset Management operates within Salesforce, authorized users can manage asset records, supporting documents, approvals, and accounting activity in one connected environment.

This can help organizations:

• Maintain a centralized fixed asset register
• Reduce disconnected spreadsheets
• Standardize acquisition and disposal processes
• Track depreciation and net book value
• Allocate asset activity to appropriate financial dimensions
• Reconcile fixed asset balances with the General Ledger
• Maintain a traceable financial history

Security and Access

The organization's configured Salesforce security and GoldFinch permissions govern access to fixed asset records, journals, depreciation, disposals, and related financial information.

Users can perform only the functions authorized for their assigned responsibilities.

Related Capabilities

Explore other GoldFinch Accounting capabilities:

• General Ledger
• Accounts Payable
• Financial Reporting
• Multi-Company and Multi-Currency Accounting
• Financial Closing
• Salesforce Approval Workflows

Detailed setup instructions, acquisition procedures, depreciation processing, disposal procedures, data-conversion guidance, and troubleshooting resources are available to signed-in GoldFinch customers and approved partners.