Suggested from your receipts
Office equipment from S$1,000 is suggested as an asset, so it is not expensed in one go by mistake.
Assets
Fixed asset register and depreciation
Register laptops, phones and equipment as fixed assets. Tallycent depreciates them monthly by the method you choose, including the IRAS capital allowance write-offs.
Five methods
Straight line, diminishing value, full write-off, and the IRAS capital allowance options over 1 or 3 years.
Book value at any date
Cost, accumulated depreciation and net book value for each asset and in total.
Sold or scrapped
Record the date and sale price; the loss or gain goes into your expense statement.
How it works
- 01
Confirm the purchase receipt
- 02
Register it as an asset and pick a category
- 03
Choose the depreciation method
- 04
Depreciation lands in your expenses each month
Questions
How do I know if something is an asset?
Tallycent’s guide on the Assets page sets out the three tests and the IRAS category for each type of item.