Adding an asset
In Assets ▸ Add Asset (or press Ctrl+N), a compact form opens. Fill in what you have:
| Field | Notes |
|---|---|
| Asset Code | Auto-suggested from the class (e.g. PM-0009); must be unique. |
| Asset Name * | A clear name — this is what appears in reports. |
| Class * | Required. It sets the asset's nature (tangible / intangible) and defaults. |
| Sub-Class / Location / Custodian | Optional. |
| Vendor / GSTIN / State / Invoice | Purchase trail — handy for the additions register. |
| Invoice Date / Put-to-Use Date * | The put-to-use date must fall in the selected financial year for a new asset. |
| Quantity | Often 1, but can be more (e.g. 4 chairs). |
| Gross Cost * | Must be positive. |
| Residual | Enter as a % of gross cost; the amount is computed for you. |
| Method | SLM (uses useful life years) or WDV (uses depreciation %). |
| Status | Active, or Disposed (with disposal date, proceeds, buyer). |
Just FAR validates before it saves — for example, it won't let a WDV asset run without a rate, or a disposal without sale proceeds, or a residual that exceeds cost.
Capital additions
When you improve an existing asset (an addition to the gross block), record it as a capital addition on that asset rather than as a new asset. It gets its own date and amount and depreciates from its own date — the engine keeps the base cost and each addition separate, so later years stay correct.
Editing & disposing
- Edit — select an asset and press Enter, or Assets ▸ Edit.
- Dispose — select and press Dispose. Enter the sale date, proceeds and buyer; Just FAR stops depreciation at that date and reports profit/loss on sale.
- Undo a disposal — return the asset to Active and clear the disposal details.
- Delete — removes the asset and its additions (after confirmation).
Importing from Excel
If you already keep the FAR in a spreadsheet, Assets ▸ Import Excel will bring it in:
- Choose the file (.xlsx).
- Map columns. Just FAR auto-detects standard Indian FAR column names (asset code, name, class, date of purchase, cost, rate, etc.). You can override any mapping — some columns are optional.
- Confirm. A preview shows how many rows map cleanly. Fix any flagged rows, then import.
Use the built-in Template (Assets ▸ Template) if you want a ready-made workbook with the exact column names Just FAR expects.
Validation rules worth knowing
- A capital addition can't be dated before the asset's put-to-use date.
- A disposal date can't be before the put-to-use date or the latest addition.
- Opening WDV must equal gross cost minus accumulated depreciation (for adoption).
- Asset codes are case-insensitive and unique — the code you save is checked against the whole register.