What Are Fixed Assets?
Fixed Assets are long-term tangible items purchased for business use—such as equipment, vehicles, or machinery—that depreciate over time. By recording these assets in the system, users can automate depreciation, track value changes, and maintain accurate balance sheets.
NuMetric uses the straight-line depreciation method with prorated calculation, meaning depreciation is evenly spread over the asset’s useful life and automatically adjusted based on the asset’s acquisition date within the fiscal year. This ensures accurate monthly expense allocation and real-time asset value tracking.