Fixed asset register template UAE with depreciation

One row per asset, or per group of identical low-value items. Tag physical assets with the register number so they can be found during a count.

• Asset number and tag, description, category
• Supplier, invoice number and purchase date
• Cost excluding recoverable VAT; VAT paid and whether recovered
• Location (branch, emirate, warehouse) and custodian
• Useful life, depreciation method and residual value
• Monthly depreciation, accumulated depreciation and net book value
• Disposal date, sale proceeds, VAT charged on sale and gain or loss

A Dubai logistics company buys a delivery van for AED 126,000 including VAT of AED 6,000, which it recovers. It expects a five-year life and a residual value of AED 20,000.

• Cost for the register: AED 120,000 (VAT recovered, so excluded)
• Depreciable amount: AED 120,000 − AED 20,000 = AED 100,000
• Annual depreciation: AED 20,000; monthly: about AED 1,666.67
• Net book value after two years: AED 80,000
• If sold after two years for AED 90,000 plus VAT, the gain is AED 10,000 and 5% VAT is charged on the sale

Reconcile the register total to the balance sheet every month. Count assets at least once a year and write off what cannot be found. Set a capitalisation threshold in your accounting policy, for example items above AED 2,000, and expense anything below it.

Selling a business asset is normally a taxable supply for VAT if you are registered, even though it is not your usual trade. For corporate tax, accounting depreciation is generally the starting point, but check any adjustments with your tax agent.

When the AI agent reads a supplier bill for equipment or a vehicle, it suggests posting it to a fixed asset account rather than an expense and asks you to confirm. Set up a recurring monthly depreciation journal per asset category, and HelloBooks posts it at each month-end.

The register itself can be kept as attachments and asset accounts by category, with the audit log showing who changed what. If your firm wants a fixed asset schedule report in a specific layout, request it as a customisation through hello@hellobooks.ai.