Use this template to keep track of your fixed business assets.
Use this template to keep track of your fixed business assets. A fixed asset register (FAR) is a record of all of the fixed assets owned by an organisation. Assets may include buildings, machinery, vehicles, furniture, fixtures and fittings, intellectual property rights, and any other items used by the business.
What you need before purchase
After purchase, you’ll be able to view the template immediately. The template can be added to your Notion account by:
A fixed asset register (FAR) is an accounting system that tracks the acquisition, depreciation and amortization of all assets used in business operations. The FAR is also known as the Fixed Asset Register or the Fixed Assets Register. A FAR can be used for any type of business operation including manufacturing, retailing, wholesale, service-based businesses, etc. It is important to note that a FAR does not track inventory but rather it tracks only those assets that are purchased by a company.
Fixed assets include tangible property such as buildings, machinery, furniture, vehicles, computers, office equipment, etc., which have been acquired by a company and are intended to be held for more than one year. They may be bought with cash or financed through bank loans.
You will need to first set up a new fixed asset account before you can start tracking your fixed assets. You can either do this manually or automatically using Notion.
There are many reasons why you should maintain a fixed asset register. Here are just some: