Admin Assets

How to categorize types of assets.

1.Log in to the system with access to Accounting module.

2. Navigate to accounting Assets and click open.

3. On the search bar. filter the the list by Asset type.

4.Once you apply that filter you shall have a view of the assets grouped by the Asset Types

Create an Asset Model

1.Go to: Accounting → Configuration → Asset Models

2. Click New.

3. Fill in:

Field	Meaning
Asset Model Name	Name/category of the asset e.g. Office Computers
Fixed Asset Account	Balance Sheet account where asset value is recorded
Depreciation Account	Accumulated depreciation account
Expense Account	Account where depreciation expense is posted
Straight Line Method	Equal depreciation every period
Declining Method	Higher depreciation at the beginning, lower later
Number of Depreciations	Total number of depreciation entries
Monthly Frequency	Depreciation posted every month
Yearly Frequency	Depreciation posted once per year

Click Save.

Purchase/Book the Asset

Option A : Through Vendor Bill (Recommended)

1.Go to: Accounting → Vendors → Bills → New

Select Vendor
Add product/asset
Choose the Asset Account

2. Under the bill line:

Select the Asset Model

3. Confirm/Post the bill.

Odoo automatically creates the asset.

Option B: Create Asset Manually

1.Log in to the system with access to Accounting module.

2. Navigate to accounting --Assets and click open.

3.Click New

4. Fill in the required information for the asset to be created.

Explanation of Asset Form Fields in Odoo

Field	Meaning
Asset Name	Name of the asset e.g. Laptop iBook
Asset	Asset category/type
Bills	Vendor bill linked to the asset
Original Value	Purchase cost of the asset
Acquisition Date	Date the asset was bought
Asset Model	Predefined depreciation setup/template
Asset Group	Group/category of similar assets
Not Depreciable Value	Value that should not depreciate (salvage/residual value)
Book Value	Current asset value after depreciation
Depreciation Method	How depreciation is calculated
Straight Line	Equal depreciation every period
Duration	Useful life of the asset
Computation – Constant Periods	Equal depreciation amounts for all periods
Prorata Date	Date depreciation starts
Fixed Asset Account	Account holding asset value
Depreciation Account	Accumulated depreciation account
Expense Account	Depreciation expense account
Journal	Journal used for depreciation entries
Analytic Distribution	Allocation of costs to departments/projects
Value at Import	Asset value during import/migration
Depreciated Amount	Total depreciation already recorded

5. Compute Depreciation

6. Confirm

Depreciation Computation/Calculation in Odoo

Odoo automatically computes depreciation based on:

Asset value
Useful life
Depreciation method
Frequency

Example

Asset Cost = 120,000

Useful Life = 5 Years

Method = Straight Line

Frequency = Monthly

Monthly Depreciation:

text{Monthly Depreciation}=\frac{120000}{5\times12}=2000

So:

Monthly expense = 2,000
Odoo generates monthly depreciation journal entries automatically.

Computing Depreciation

Open the asset record.

Click:

Compute Depreciation

Odoo creates the depreciation schedule.

Then:

Click Confirm

Odoo automatically creates depreciation entries and would post them automatically based on the depreciation date set on the entries

FINAL ASSET SETTLEMENT GUIDE

Convert AuC (Assets under Construction) to Final Assets.

PREREQUISITES

Before you start, ensure you have:

1. AUC Asset Model - A model that defines the depreciation parameters for the final asset (method, accounts, etc.)

2. WBS - Final asset WBS

3. Depreciation Key (optional) - for auto-generating the asset code

PROCEDURE A: SINGLE ASSET SETTLEMENT

Settle one AuC asset into one Final asset.

Step 1 - Find the AuC Asset

Go to Accounting > Assets > Assets. Filter by:

Status = Running (open assets)
Asset Type = Assets
Is Final Settled = False

Alternatively, open the asset directly from its form view.

Step 2 - Open the Wizard

From the list view, check the asset and click Action > Settle AuC Assets.

Or from the form view, click the Settle AuC Assets button on the asset form.

The wizard opens with the asset pre-loaded.

Step 3 - Fill the Wizard

Fields:

- Asset Count (read only): shows the number of assets selected

- Final Asset Model (required): pick the model that defines the

final asset's depreciation

- Settlement Account (auto-filled): from the model; override if needed

- WBS (required): the new WBS to assign to the final asset

- Depreciation Key (optional): determines the asset code sequence

- Cost Centre (optional): cost centre for the final asset

Step 4 - Settle

Click Settle. The system:

1. Validates the asset is not already settled

2. Sums all posted AuC entries (account 60110010) for the asset's WBS

3. Creates a journal entry moving the value from AuC to the asset account

4. Creates one Final Asset with depreciation from the selected model

5. Closes the source AuC asset

6. Opens the new final asset

PROCEDURE B: MULTI-ASSET (BULK) SETTLEMENT

Settle multiple AuC assets into a single combined final asset. All their

AuC values are summed together.

Step 1 - Select Assets

Go to Accounting > Assets > Assets. Filter by:

Status = Running
Is Final Settled = False

Check the box next to each AuC asset you want to include.

Step 2 - Open the Wizard

Click Action > Settle AuC Assets.

The wizard opens showing Asset Count = Number of assets selected.

Step 3 - Fill the Wizard

Same fields as single settlement. Note that all selected assets will be

merged into one final asset, so pick a single WBS and model that represents

the combined result.

Step 4 - Settle

Click Settle. The system:

1. Validates none of the selected assets are already settled

2. Sums all posted AuC entries across all selected WBS

3. Creates one journal entry for the combined total

4. Creates one Final Asset with the combined original value

5. Closes all source AuC assets

6. Opens the new final asset

WHAT HAPPENS BEHIND THE SCENES

Journal Entry

For a settlement of $100,000:

Account Debit Credit

Asset Account (from model) $100,000

AuC Account (60110010) $100,000

For a bulk settlement, the same structure with the combined total.

Source Asset Changes

Each source asset is updated:

Status -> 'close' (Closed)
Is Final Settled -> True
Final Settlement Asset -> link to the new final asset

Final Asset Values

The final asset inherits:
Name: the model name (e.g. "10BB")
Original Value: total AuC sum
Asset Code: next from sequence of the model (this requires prior configuration from the development team)
Depreciation: method, period, useful life, accounts from the model

Document Sign-Off

Role	Name	Date
Prepared By	Martha Ondigi and Mark Musili	29/07/2026
Reviewed By	Joseph Okech	15/05/2026
Approved By	John Maiki	10/08/2026
Authorized By	___________________	__________