Cash based businesses cannot use the new fixed asset module

Cash based businesses cannot use the new fixed asset module

Hello all,

If your bookkeeping is reporting in cash, you cannot use the new fixed acid module, as it does all the depreciation bookings accrual and not cash. This is definitive and you can't turn them into a cash booking. They will never appear in your cash based reports. At the moment there's no possibility to change this, so, you will not be able to use the fixed asset module.

I am in this with with the Zoho Books team and they are figuring out, if they will find a solution. But at the moment, if you are reporting in cash, you cannot use the module. Don't even try, it will create a mess, as we have experienced!

Up to the date of today Zoho Books team regards depreciation bookings as accrual, as they are non-cash, not taking into consideration that every real actual booking always leads to a cash booking at the moment, where the invoice which creates the accrue booking is paid. So every accrual booking has always a connected cash booking (if not, it has to be booked out again) This never happens with a depreciation booking, it is just a booking as is. So the fixed asset module books depreciation expenses accrual, the booking always stays accrual and never leads to a cash booking, so a cash reporting business will never have any depreciation bookings with this module in their reports - and therefor cannot use the module.
Let's see if and how this is going to be solved. For now, if you are reporting accrual, you are fine with the module, if you are reporting cash, no chance to use it, hands off!

Best regards to all,
Christian K.

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