Fixed asset software
Fixed asset and depreciation software for small business, with the loan beside it
Record a vehicle, machine or computer as a fixed asset, post the purchase with the down payment and the loan in one entry, and record depreciation from a schedule that AcboBooks works out for you. The loan that financed it has its own amortization schedule, and each payment splits into interest and principal.
Fixed assets and loans are part of AcboBooks, the desktop accounting program bought once for $399.99. Depreciation by straight line, declining balance, US MACRS or Canadian CCA.
No card, no account. Windows 10 and 11. United States and Canada.
What it means
In practice
A schedule, not a spreadsheet
Enter the cost, date, salvage value and useful life, and AcboBooks works out the depreciation schedule year by year. Record a year's depreciation on a date you pick, and it posts the expense against accumulated depreciation, never past the amount that can be depreciated.
Bought with a loan
Post the purchase now and one entry debits the asset, takes the down payment from the bank or card and puts the rest on the loan. Link the asset to its loan and the asset list shows the loan balance beside the book value.
The US and Canadian tax methods
Since version 0.2.2: US MACRS (half-year and mid-quarter, 3 to 20-year classes) with Section 179 and bonus amounts, Canadian CCA with 17 classes, the half-year rule and the Accelerated Investment Incentive, declining balance, Record One Month and a Fixed Asset Report.
Depreciation and loan interest land on the profit and loss.
The tractor, the trailer and the loan, all on one list
Each piece of equipment is an asset with its cost, its schedule and its book value. The note that paid for it is a loan with its own schedule, and each monthly payment splits into interest expense and principal by itself.
At year-end, record the depreciation, check the book values and give your accountant the asset list. They decide the tax depreciation; your books show the asset's real cost being used up.
What is in the licence
The whole job, in one price
Assets
Depreciation
Loans
Around it
Assets and loans live in the same company file.
What it does not do
· Depreciation is recorded by clicking per asset; there is no automatic monthly run.
· One method per asset, so no separate book and tax schedules; Section 179 and bonus limits are shown as guidance, not checked.
· Straight-line and declining balance take a full year in the year acquired; there is no mid-month convention, and MACRS covers 3 to 20-year property, not 27.5 or 39-year real property.
· CCA is worked per asset, not per class pool, so your T2125 or T2 schedule may differ.
· Loans are monthly, and the monthly payment is typed in, not calculated.
· Windows 10 and 11 for now (no Mac version yet); no phone app.
· One company per file; open as many files as you have businesses.
Questions people ask
Before you download
Which depreciation methods does it use?
Released versions use straight-line. Version 0.2.2 adds declining balance (200%, 150% or 125%), US MACRS from IRS Publication 946 and Canadian CCA classes. US companies see MACRS and Canadian companies see CCA.
Does it work out my tax depreciation?
It keeps your book depreciation. With MACRS or CCA in version 0.2.2 the book figure follows the tax tables, but Section 179, bonus depreciation and CCA class pools are your accountant's call on the return.
How do I record a loan for equipment?
Create the loan in Loans with the amount, rate, term and payment, then post the asset purchase financed by it. Record each payment from Loans and the interest and principal are split for you. Our article on recording a business loan walks through it.
How do I record selling an asset?
Click Sell on the asset in Fixed Assets, enter the date, the price and where the money went. AcboBooks removes the asset's cost and accumulated depreciation and posts the difference to Gain or Loss on Sale of Assets; a scrapped asset is the same with a price of 0.
Coming from something else?
How it compares to what you use now
Get started
Add your first asset in the trial.
Enter a vehicle with its loan and look at the schedule.
No card. No account. Nothing to cancel.