Money
Assets and owner funds
Owner transactions record money the owner puts into the shop or takes out of it. Capital assets record what the shop owns: benches, tools, equipment, with purchase price, date, serial number, warranty expiry and eventual disposal.
What it does
Small shops are funded by their owners, and the boundary between the owner's money and the shop's money is where bookkeeping usually breaks down.
An owner transaction is one of two things: money in, or money out. Both record the account involved and the date.
An asset is something the shop bought and keeps. A soldering station, a display cabinet, a van. It records the purchase price and date, the account it was paid from, and can hold a serial number, a warranty expiry and a photo.
An asset can be linked to the owner transaction that funded it, which answers the question of what the owner's injection was actually spent on.
When an asset is sold or scrapped, record the disposal date and a note rather than deleting it.
Every capability
| Owner transactions | Money in, or money out |
|---|---|
| Recorded | Amount, date, account, branch and description |
| Asset categories | Furniture, equipment, electronics, vehicle, fixtures, other |
| Asset details | Purchase price and date, serial number, warranty expiry, photo, notes |
| Funding link | An asset can name the owner transaction that paid for it |
| Branch | Assets belong to a branch |
| Disposal | Date and note, rather than deletion |
Questions
Is this full accounting?
No. Fixmo records what came in, what went out and what the shop owns. It does not produce statutory accounts, and it does not calculate depreciation.
Why link an asset to an owner transaction?
So the money put into the shop can be traced to what it bought, rather than disappearing into a total.
What happens when I sell a piece of equipment?
Record the disposal date and a note. The asset stays in the record with its history intact.