Account Structure for businesses and accounting firms


Account structure for both businesses/corporations and accounting firms in AssetAccountant

The account structure and AssetAccountant.

There are two types of subscribers to our service: Businesses and corporations, and accounting firms.

Firstly, businesses and corporations. In a typical setup, the account holder is known as the organization and will appear in the top left hand side menu at the top of the interface. Nested beneath the organization are individual fixed asset registers. Fixed asset registers may also be known as entities or fixed asset schedules.

Whilst many businesses only have a single register, AssetAccountant can nest as many as you require within each register. Navigate to the assets menu item on the left hand side. You can add as many asset groups as you need via the interface. The asset groups can also be added when importing assets from a spreadsheet file. Within each asset group. You can proceed to add as many assets as you need, either via the interface or again, by importing in bulk from a spreadsheet file, adding groups and assets via AssetAccountant’s, powerful importing tools, or the subject of other videos you can search for in this video hub.

Furthermore, in the case of accounting firms, similar to businesses, a subscriber from an accounting firm will also be referred to as the organization. For instance, if your firm is named Smith and Smithed Advisory Company, it will be nested under your firm’s account. All the fixed asset registers of your individual clients will be displayed here once they are included in your account. The procedure for adding asset groups and individual assets to these groups remains identical to that of businesses.

We take depreciation and leasing seriously

We undertake detailed modelling of fixed asset depreciation and lease calculation rules for both accounting and tax.

We monitor changes to ATO tax rulings and accounting standards like IAS 16 and IFRS 16 so you don’t have to.

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