Almost everyone has fixed assets. From the humblest self employed person to the largest corporation, you can’t get away without owning something of a capital nature, even if it’s only the office PC. And, as a matter of fact, if you do own a fixed asset you aren’t keeping proper books and records if you haven’t got a fixed asset register that shows:

• what you own
• what it cost
• when you bought it
• how much you have depreciated it
• what its net book value is
• when you sold it
• what profit or loss you got on it on sale