Frequently Asked Questions
Clear answers for fixed asset setup, depreciation and reporting
These FAQs are grouped by the questions most businesses ask when moving from spreadsheets to a structured fixed asset register.
Getting started
What should I prepare before setting up AssetTrail?
Start with the latest approved annual financial statements and all supporting fixed asset registers. Ideally you should have both a book value register and a tax base value register.
Compare cost, accumulated depreciation and carrying values to the PPE note in the financial statements before importing. This helps prevent old spreadsheet errors from being carried into the system.
Why do I need both book value and tax base value information?
Book value and tax base value often differ because accounting depreciation and tax allowances serve different purposes. AssetTrail is designed to help maintain both views so depreciation, tax allowance and reporting records remain easier to support.
What happens after I register a company?
Complete the setup wizard and use the dashboard as your guide. The dashboard helps identify the next setup steps, such as importing assets, reviewing policies, adding branches or cost centres, and preparing for depreciation runs.
Importing assets
How should I approach the first import?
Download the import file from the asset list screen and follow the formatting requirements carefully. For the first import, work in manageable chunks. A good practical approach is to import one IFRS classification or asset class at a time.
Why should I import in smaller chunks?
Smaller imports are easier to validate and reconcile. After each asset class is uploaded, check that the data balances, then continue with acquisitions, relationships, branches, cost centres and policy assignments.
Should I set residual values during import?
Yes, where appropriate. If residual values are ignored, assets may depreciate to nil or a nominal value even though the business expects recovery on disposal. Residual values should reflect management’s reasonable estimate based on the facts.
Depreciation policies
What drives depreciation in AssetTrail?
Depreciation is driven by the asset information, depreciation policies and any specific useful life or residual value assumptions on the asset card. If an asset has its own useful life or residual value, those asset-specific assumptions can override broader policy defaults.
Can I use SARS Section 11(e) periods as accounting useful lives?
Potentially, but only where those periods reasonably reflect the economic life and consumption pattern of the asset. SARS wear-and-tear periods are useful tax references, not automatic accounting rules.
What should I watch out for with bulk mapping?
The bulk mapping tool is powerful and can save time, but selections must be cleared before starting a new mapping action. If previously selected assets remain selected, they may be changed again unintentionally.
Reporting and compliance
What reports should I expect from a clean asset register?
A clean register should support detailed fixed asset listings, depreciation schedules, book value and tax base views, movement reporting, disposal support and audit-ready review information.
Are R1 assets automatically a problem?
No. Fully depreciated assets still in use are common. However, if many assets remain productive after reaching R1 carrying values, management should review useful lives, residual values and depreciation assumptions.
Does fair value guidance mean PPE must be revalued?
Not automatically. Fair value guidance explains how fair value is measured when another section requires or permits it. It does not, by itself, require every PPE asset to be revalued.
Asset tagging and QR codes
AssetTrail supports asset tagging with QR codes so physical assets can be traced back to the register during checks, audits and reviews. Asset tagging is especially useful where assets move between locations, branches or cost centres.
Support and onboarding
If you are not comfortable completing setup yourself, email info@assettrail.co.za. The AssetTrail team can assist with onboarding, importing and mapping assets, with fees quoted based on the time and resources required.