Complete Fixed Asset Register — Every Asset, One System

VS1 Cloud maintains a centralised register of every fixed asset your business owns. Record purchase price, acquisition date, asset category, useful life, location, serial number and condition — and see the current written-down value at any time.

Whether you own 20 assets or 2,000, VS1 Cloud gives you a single source of truth for your entire asset base — accessible by authorised users from any device, anywhere.

• Unlimited assets across any number of categories.
• Track location, condition, serial number and custodian.
• View current book value, accumulated depreciation and remaining life.
• Attach photos, documents, warranties and insurance certificates per asset.

Automated Depreciation — Calculated and Posted Without Lifting a Finger

VS1 Cloud calculates depreciation automatically using your chosen method — straight-line, reducing balance or a custom schedule — and posts the depreciation journal entries directly to your general ledger each period.

No spreadsheets. No manual journal preparation. No risk of errors. Your balance sheet always reflects an accurate asset value, and your P&L always captures the correct depreciation charge.

• Straight-line and reducing balance depreciation methods.
• Custom useful life and depreciation rates per asset.
• Automatic journal posting to GL — every period, every asset.
• Full depreciation schedule by asset, category or period.

Asset Acquisitions, Disposals and Write-Offs

When your business acquires a new asset, VS1 Cloud records the purchase cost, capitalises it to the asset register and begins depreciating it from the correct date. When an asset is sold, scrapped or written off, VS1 records the proceeds, calculates the gain or loss against written-down value and posts the disposal entries to accounts — automatically.

• Record acquisitions with purchase cost, supplier and capitalisation date.
• Handle part-period depreciation on newly acquired assets.
• Disposals with proceeds, gain/loss and automatic GL entries.
• Write-off assets fully or partially at any time.

Integrated with Hire — Know Which Assets Are Out and Earning

VS1 Cloud fixed assets and Hire share the same asset record. When an asset is booked out on hire, the hire module updates its status in real time — so your asset register always reflects what is available, what is on hire, what is overdue and what is being serviced.

Track revenue generated by each asset against its book value, maintenance cost and depreciation charge to understand true return on investment per asset.

• Real-time availability status from hire bookings.
• Revenue per asset tracked against depreciation and maintenance cost.
• Asset utilisation reporting — hours hired, idle time, seasonal trends.
• One asset record shared across Hire, Repairs and Fixed Assets.

Connected to Repairs — Full Service History and True Cost of Ownership

Every repair job, scheduled service, parts replacement and maintenance cost completed in the VS1 Repairs module is automatically linked to the relevant fixed asset record. Over time, this builds a complete service history and a true, total cost of ownership for every asset you operate.

When a hire asset returns damaged or when a machine is due for its scheduled service, VS1 Repairs connects directly — keeping your asset in safe, compliant and revenue-generating condition.

• Complete repair and service history per asset — date, technician, parts, cost.
• Total maintenance cost tracked alongside depreciation and acquisition cost.
• Flag assets for service when hire returns or service intervals are due.
• Maintenance costs flow through to asset profitability reporting.

Asset Reporting — Compliance, Valuation and Tax Depreciation

VS1 Cloud generates the reports your finance team, auditors and ATO need — depreciation schedules, asset valuation summaries, disposal registers and tax depreciation reports. Every report draws from live data — no exports, no reconciling spreadsheets.

For Australian businesses, VS1 supports both accounting depreciation and ATO tax depreciation methods including instant asset write-off and accelerated depreciation schedules.

• Full depreciation schedule by asset, category or date range.
• Asset valuation report — cost, accumulated depreciation, written-down value.
• Disposal register with gain/loss for each period.
• ATO-compatible tax depreciation and low-value asset reporting.