Bookkeeping
Fixed asset register
A running register of equipment, vehicles and other fixed assets for Australian businesses, with depreciation calculated and posted each period so the balance sheet stays accurate for your registered agent at tax time. Disposals and trade-ins are removed with any gain or loss recorded, and we build the register from purchase records where nothing was tracked before.
Bank reconciliation summary
Illustrative client · August 2026
AUD
| Account | Difference | Status | ||
|---|---|---|---|---|
| Operating account··4821 | 184,220.16 | 184,220.16 | 0.00 | Reconciled |
| Reserve account··0937 | 60,000.00 | 60,000.00 | 0.00 | Reconciled |
| Company card··1006 | (12,418.52) | (12,418.52) | 0.00 | Reconciled |
| Card processor clearing | 8,905.40 | 8,905.40 | 0.00 | Reconciled |
| Payroll clearing | 0.00 | 0.00 | 0.00 | Reconciled |
Last weekly runFri, 28 Aug, every account agreed to its statement.
Two open itemsTwo card receipts requested from you, marked on the card account until they arrive.
Illustrative. An example of the document, not a client's figures.
A depreciation schedule your adviser can actually use
Every piece of equipment, every vehicle and every fit-out an Australian business buys needs to sit on a fixed asset register with a depreciation method applied consistently, both for the financial statements and as the source data a registered agent uses when the income tax return is prepared. Finbryn maintains that register and posts depreciation each period under Australian Accounting Standards, so the balance sheet reflects what the assets are actually worth.
We log every fixed asset with its purchase date, cost and useful life, calculate and post depreciation on a consistent method each period, and remove disposals and trade-ins from the register with any gain or loss recorded properly rather than left dangling on the balance sheet. This is a financial-reporting register, not a tax decision: we do not choose which depreciation method or which instant asset write-off or small business pool treatment applies for tax purposes. That decision, and the tax depreciation schedule that goes with it, sits with your registered tax adviser, and we hand them a clean, dated asset history to work from.
Starting from nothing
Plenty of Australian small businesses have never formally tracked fixed assets, relying instead on whatever the accountant did at tax time each year with no register in between. We build the register from purchase records and prior tax depreciation schedules as part of catch-up work, so there is a proper starting point rather than a gap.
Software
Maintained inside Xero, MYOB or QuickBooks Online, using each platform's fixed asset module where it fits, or a linked schedule where the business's asset base is more complex than the built-in tool handles well.
Questions
Frequently asked questions: Fixed asset register
Do you decide which depreciation method or tax pool we use?
No. We maintain the register and post depreciation for the financial statements; your registered tax adviser decides which method, election or small business pool treatment fits your tax return.
Do you calculate depreciation for tax purposes too?
We maintain the accounting depreciation schedule. Tax depreciation, including any instant asset write-off election, is confirmed with your TPB-registered agent.
Does the register cover disposals and trade-ins?
Yes. Disposals and trade-ins are removed from the register with any gain or loss recorded, so the balance sheet never carries an asset that no longer exists.
What access do you need to build the register?
A list of assets held with purchase dates and costs, or read-only access to prior tax depreciation schedules if one already exists, so opening balances match what your registered agent has previously claimed.
How is the fixed asset register priced?
As a one-off setup fee based on the number of assets, plus a small ongoing charge if the register is maintained and updated each month.
Do you decide which depreciation method or tax election to use?
No. We maintain the register and book depreciation for financial reporting; your tax preparer decides which depreciation method or election fits your return.
What if we have never tracked fixed assets before?
We build the register from purchase records and prior tax depreciation schedules as part of catch-up work.
What software works with fixed asset register?
Fixed asset register runs inside QuickBooks Online or Xero, whichever you already use. If you are not yet set up in either, we can configure a file in your name so you keep ownership of it once the engagement is under way.
How do we get started with fixed asset register?
Getting started with fixed asset register begins with a short review of your current records and software access. Once that is done we confirm scope and timing in writing, and ongoing work begins on the schedule agreed with you.
Related services
- BookkeepingInventory accountingInventory tracked from purchase through sale, with cost of goods sold calculated properly instead of estimated, on a periodic or perpetual basis.
- BookkeepingAccrual basis bookkeepingBooks kept on an accrual basis, matching income and expenses to the period they were earned or incurred, so reports reflect the real state of the business.
Industries
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.