Support your tax allowances
The Income Tax Act allows wear-and-tear allowances on assets used in your trade, and your claims must be supported by records.
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Fixed Asset Register
We build and maintain a fixed asset register for your business.
Why you need it
Why Your Business Needs a Fixed Asset Register
A fixed asset register gives you the records needed to track business assets, support financial statements and substantiate applicable wear-and-tear allowances.
Accurate financial statements
Asset values and depreciation in your financial statements come from the register.
Know what you own
A register shows where each asset is and helps you spot missing or unused items.
Ready when SARS asks
SARS can request supporting records, which must generally be kept for five years.
How we deliver it
How we deliver fixed asset register
We keep the process clear, practical, and focused on your service needs.
- 1
List your assets
We gather invoices and details of every asset the business owns.
- 2
Build the register
We record each asset's cost, date, location and category.
- 3
Calculate depreciation and allowances
We work out accounting depreciation and the tax allowances that apply.
- 4
Keep it updated
We add purchases and remove disposals so the register stays accurate.
Related Accounting & Bookkeeping
Ready to get your fixed asset register sorted?
Request a quote for fixed asset register support from Happy Business Solutions.