Assets
Every asset, its value and its keeper.
Register, depreciate, move, repair and sell assets, with the company and income-tax books both kept.
- Works today on the demo company
- Live demo sign-in from us, on request
- Your server or MyRecords Cloud
- Built for you
- Customised
- to your requirements, by our team
- Users
- Unlimited
- no per-user fees, on any module
- Runs on
- Your server or MyRecords Cloud
- a dedicated system, in any country
What it fixes
What changes with Assets.
In short
Assets in MyRecords keeps the fixed asset register: what you own, where it is, who holds it and what it is worth. Depreciation schedules post to the books each period, and the Asset desk moves, repairs, sells, scraps or revalues an asset in one step. For India, an income-tax block WDV book runs beside the company book, and a CA pack in Excel gives your auditor the register, the Schedule III note and the income-tax working.
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Before: The asset register is an old Excel sheet nobody updates.
With Assets: A purchase receipt or bill for an asset item creates the asset with its cost; add where it is and who holds it, and submit.
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Before: Depreciation is a year-end scramble with the CA.
With Assets: Schedules post each period, and the income-tax block WDV book runs beside the company book.
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Before: Nobody knows which laptop is with whom.
With Assets: Each asset shows its custodian and location, and a physical check by location ticks what is there.
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Before: An old machine is sold with no idea of the GST or the loss.
With Assets: Sell on the Asset desk shows the least GST due on the sale and the gain or loss before you post it.
What it does
What Assets does for you.
Everything here works today on the demo company.
- 01
Asset register
Every asset with its category, location, custodian, cost and book value. Add an existing asset brings in one you already own, with the depreciation booked so far.
Works on the same records as
- 02
Depreciation
Straight line, written down value, double declining balance, shift based or manual, per finance book, with day-wise pro rata. A schedule and a book value chart for each book.
- 03
Income-tax depreciation
A separate income-tax book by block, set up in one click by an Accounts Manager, with additional depreciation on new plant and machinery. The company book is untouched.
- 04
Asset desk
Transfer, maintain, repair, split, sell, revalue, scrap, restore or capitalize an asset, and Post all due depreciation. A greyed-out tile says why. Batch mode moves or depreciates several at once. Say what to do by voice, or see assets on a map by location.
- 05
Physical check
Walk a location, tick what is there, move strays to where they really are, and save the check. If the signal drops, the ticks are kept on the phone until you are back online.
- 06
Maintenance and repairs
Maintenance plans with tasks, teams and certificates; jobs due in 3 days and overdue jobs remind the assignee. Repairs show average repair time and days between breakdowns.
- 07
Value and insurance
Insurance with reminders 30 and 7 days before it ends, value adjustments, capitalization of composite assets, and each asset's value history.
- 08
Tags and handover
Print asset tags with a QR code to the Asset desk, asset cards and handover forms. The person who takes an asset confirms it on Confirm a handover.
- 09
CA pack
One Excel file with the register, the Schedule III note and the income-tax working.
- 10
AI help
Fill in an existing asset from a bill, check a photo against the asset, put a depreciation row in one sentence, suggest what to do first, and tidy a job note or write it from a photo of the work. On jobs and repairs, a spoken voice note can be transcribed (Gemini or Vertex AI). Needs the AI Assistant add-on.
India compliance
For businesses in India, built in.
India is our first fully supported market. Each line says whether it works today, once you connect your account, or in part.
Outside India
Outside India, the asset register and the company depreciation book work the same. Income-tax blocks, the Schedule III note and GST on a sale are for India.
What works in your country- Works today
Income-tax blocks
Each block of assets at its income-tax WDV rate, half the rate for assets used under 180 days in the year, and sale proceeds off the block. Kept apart from the Companies Act book.
- Works today
Additional depreciation
20% on new plant and machinery, or 10% now and 10% next year when it is used for less than 180 days in its first year.
- Works today
Schedule III note
The CA pack carries the fixed assets note in the Schedule III layout.
- Works today
GST on selling an asset
Sell shows the least GST you must pay on selling a used asset under section 18(6) of the CGST Act, from the input credit taken and the quarters used.
Try it
See it on the demo company.
We show you the live system on a call: an asset's depreciation schedule, and a transfer to another location from the Asset desk. Ask for a demo sign-in to try it yourself, or join the pilot programme and load your own register.
Reports and roles
What you see, and who sees it.
Reports come ready on day one. Each person sees only the screens and records their role allows.
Reports you get
- Fixed asset list
- Asset values and depreciation
- Asset depreciation ledger
- Income-tax depreciation, by block
- Asset maintenance tasks
- Asset history and activity
Who sees what
- Owner
- See every asset, its value and its custodian.
- Accounts Manager
- Sell, scrap or revalue assets, transfer them and set up the income-tax book. Only this role (or a System Manager) can dispose of an asset.
- Accounts User
- Add assets, post depreciation and run the register and schedules.
- Stock Manager
- Transfer assets between locations and people.
- Manufacturing User
- Work the asset maintenance jobs, add a note or photo of the work and mark them done.
Before you decide
What works today, and what does not.
Said plainly, so you can plan around it. What comes next is on the roadmap.
Works today14
On the demo company, now.
- Asset register
- Depreciation
- Income-tax depreciation
- Asset desk
- Physical check
- Maintenance and repairs
- Value and insurance
- Tags and handover
- CA pack
- AI help
- Income-tax blocks
- Additional depreciation
- Schedule III note
- GST on selling an asset
Not in Assets yet
Left out on purpose, or planned.
- Working offline, except the physical check. Other asset screens need a connection.
- On a phone
- Works in any phone browser and installs to the home screen, so a physical check can be done walking the floor with a phone. If the signal drops during a check, the ticks are kept on the phone and recorded when it is back. The other asset screens need a connection.
- Bringing data in
- Assets you already own, with their accumulated depreciation, through Add an existing asset or our Excel templates through Import data, which checks the columns first; an import that created new records can be undone.
- Getting data out
- The register, schedules and the CA pack export to Excel; every list to CSV or PDF.
- Integrations
- AI help (reading a bill, the photo check, plain sentences) needs the AI Assistant add-on, and an AI key on your own server. Handover messages and job reminders go on WhatsApp once you connect WhatsApp Business; until then a handover opens in WhatsApp for you to send by hand.
- Where it runs
- Runs as your own dedicated system: on your server under an AMC, or on MyRecords Cloud for a monthly fee. Either way the register is yours, and you can export everything when you leave. Data ownership and exit
Questions
Questions people ask
Something else on your mind?
Ask us anything about modules, a quote or moving across. A person from our team replies.
Ask a question01Can it keep both Companies Act and income-tax depreciation?
Yes. The company book follows your method and useful life; the income-tax block WDV book runs beside it at one click and does not change the company book.
02Which depreciation methods does it support?
Straight line, written down value, double declining balance, shift based and manual, per finance book, with day-wise pro rata and a schedule you can preview before you submit.
03Can I bring in the assets I already own?
Yes. Add an existing asset takes the cost, date and depreciation already charged, and shows the schedule from today before you add it.
04How does depreciation reach the books?
Each schedule row posts a journal entry when it falls due, or use Post all due on the Asset desk. The home warns you if an asset failed to post.
05Does it handle GST when I sell an asset?
Sell shows the least GST due on the sale of a used asset and the gain or loss, before you post the sale.
06Can I see who holds each asset?
Yes. Every asset has a location and a custodian, and a transfer changes them with a record of the move.
Last updated Applies to MyRecords 3 Nov 2026 release
Next step
See it on your own numbers.
A live demo on our sample company, with the modules you would switch on. Or ask us for a quote first.
Live demo
Book a walk-through
- On our sample company, for your kind of work
- A quote for the modules you need
- Your questions, answered by our team