The Assets Report is an inventory of every business asset acquired in a tax year, with the date and the original cost. It’s the companion to the Depreciation Report — Assets shows what you bought; Depreciation shows how it gets expensed over time.

When to run it

  • At year-end — to give your accountant a clean list of capital purchases for the year
  • Pre-tax review — to make sure every fixed asset has been entered correctly
  • Audit trail — to document acquisitions for IRS substantiation

Opening the report

  1. Open Reports from the sidebar
  2. Find Assets Report under Asset & Depreciation Reports
  3. Click the card to open the report

Choosing what to report on

At the top of the report:

  • Business — required
  • Year — required

That’s it — there’s no bank selector. The Assets Report always combines all bank accounts under the business, since assets often span multiple accounts. There’s also no custom date range; the report covers the full year you select, based on each asset’s acquisition date.

What the report shows

A table grouped by acquisition month, with one row per asset. The columns are:

  • Acquisition Date
  • Business
  • Asset Description
  • Acquisition Cost

Each month has a subtotal row underneath its assets, and a grand total at the bottom of the report shows the total cost of all assets acquired during the year.

Important: this report shows acquisition cost (the original purchase price), not current book value or depreciated value. To see how much of that cost is being expensed each year, run the Depreciation Report.

Exporting

  • PDF — printable inventory, suitable for tax records
  • Excel — useful for cross-referencing with depreciation schedules or sharing with an accountant

How assets get into the report

Assets show up here when they’re entered as depreciable purchases in Manual Entry (using a depreciation category and an asset description). If an asset you expected isn’t in the report, double-check that it was entered as a depreciable asset rather than as an ordinary expense.

Tips

  • Run the Assets Report and Depreciation Report together at year-end — accountants almost always want both
  • Verify the Acquisition Cost column before exporting; an off-by-one in the cost throws off the depreciation calculation for years to come
  • Use the grand total as a quick sanity check against your books — large unexpected differences usually mean a mis-entry