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Odoo Fixed Assets Management

Manage multiple subsidiaries, business units and legal entities, domestic or international from a single solution. Standardize your processes, gain visibility across geographies and ensure compliance.

​What is Odoo Fixed Assets Management?        Features        Benefits        Challenges        Pricing    

What is Odoo Fixed Assets Management?

With Odoo Fixed Assets Management makes financial reporting more timely and accurate by automating fixed-asset depreciation and lease accounting. Develop a comprehensive list of existing assets, including relevant data like acquisition cost, in-service date, estimated useful life and more, and track lease agreement details like contract value, duration and discount rate. Fixed Assets Management lets you manage the entire asset lifecycle, from acquisition to retirement, with ease — and without spreadsheets and time-consuming manual processes.

Manage fixed assets and lease accounting​


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​More Accurate Records​

Out-of-date information can lead to overvaluation of fixed assets and overpaying for insurance. Fixed Assets Management makes it easy to maintain accurate records of depreciating and non-depreciating assets.

Odoo Fixed Assets Management Features

Odoo Fixed Assets Management covers the entire asset lifecycle, from procurement to disposal, helping companies maintain up-to-date records, accurately record depreciation data and comply with lease accounting standards. Fixed Assets Management works seamlessly with Odoo Procurement and Advanced Financial Management to automate the creation of new assets and posting of depreciation and lease expenses.

Asset Tracking 

Develop an accurate listing of depreciating and non-depreciating fixed assets, and maintain detailed records over the entire asset lifecycle. Assign and track assets by region, facility, department or other reporting segment. Transfer assets from one subsidiary or business unit to another while retaining the complete history without manually reentering data.

Depreciation 

Fixed Assets Management automatically calculates depreciation expenses using standard or custom methods and schedules and lets finance teams choose how and when to apply depreciation. With usage-based methods, for instance, Odoo gives you the option to not depreciate an asset during seasonal downtime, when equipment is offline.​

Lease Accounting 

Standardize lease accounting and ensure compliance with financial reporting requirements. Capture key lease details, including start and stop dates, total cost and discount rate, and amortize lease expense over the duration of each agreement. Odoo automatically posts separate journal entries for lease and interest expense and updates remaining lease liability.

Reporting 

Produce accurate financial statements that meet tax and accounting requirements, generate standard fixed-asset reports or leverage SuiteAnalytics to slice and dice asset data by location, subsidiary or other criteria.

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" Before Odoo, company leaders had to pull monthly depreciation and amortization reports from Excel spreadsheets. Now, it’s just a one-button push for the month-end process. "

Kevin Moore​

Controller, Brex

Odoo Fixed Assets Management Benefits

 

Flexible Depreciation. Use built-in templates or develop custom depreciation scenarios with user-defined schedules. 

Simplified Compliance. Automate lease payments, expense amortization and reporting, easing compliance with lease accounting standards. 

Financial Savings. Identify “ghost assets” and stop paying to ensure equipment that is no longer in service. 

Comprehensive Reporting. Get detailed analysis of cost, depreciation, lease expense and related data across virtually any operational domain.

Challenges Odoo Fixed Assets Management Solves

 

Inefficient Processes. Automated fixed-assets management solution removes complexity and makes finance teams more productive.

Maintaining Accurate Records. Track fixed assets from acquisition to disposal and compile data in real-time for more accurate reporting.

Inconsistent Results. Depreciation rules are applied consistently, on the correct schedule, using the appropriate model — all the time, for every asset.

Lease Accounting Complexity. Capture lease details, amortize lease expenses and track remaining liability automatically.

Closing Delays. Automatically post depreciation and lease expenses to the general ledger, saving time and preventing data-entry errors.

How Much Does Odoo Fixed Assets Management Cost?


Companies of every size, from pre-revenue startups to fast-growing businesses, are choosing Odoo as a flexible and cost-effective way to manage operations. The best part? Odoo Community Edition is completely free and open-source – including its order management capabilities.

There are no annual license fees. You can download, install, and start using the core platform and modules like sales, inventory, and order management at no cost. As your business evolves, you have the flexibility to customize and expand the system with additional modules or professional support when needed.

With Odoo’s open-source model, you maintain full control over your system while benefiting from a powerful, scalable ERP platform — all without the high price tag of traditional enterprise software.

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