Business Administrator keeps a constant eye on tangible assets and their role in your business. This helps you to keep an eye on your assets and it allows you to check that assets are properly accounted for.
Overview
Assets should be checked periodically to ensure they are being reported correctly. If assets are not being reported correctly, you could be over-paying or under-paying tax.
Items shown in red definitely need attention. You could double-click each item to edit their details, or click on the command Asset Management, where you can manage them all.
Asset Review also shows you quickly which assets are revenue generating and which are not. Non-revenue generating assets are called static assets.
Decommissioning and Disposal
Assets can be decommissioned or disposed of. Decommissioning an asset means it is still in your possession but is no longer of use. Disposal means that the equipment is no longer in your possession or has been rendered useless, either by damage or destruction. Both methods of termination have implications on tax reporting.
There are further discussions on Asset Management and Import Assets