The fixed-asset note is where a ledger's shortcuts surface. A credit to a gross-block account is read as a disposal when it was a reclassification; capital work-in-progress is read as additions and deductions when it was a transfer. FinIFRS builds the register and the movement schedule from the ledger line by line, runs book and tax depreciation side by side, and ties owned, right-of-use and leased-out assets into one Schedule III note.
The register lives in a spreadsheet or an ERP module that finance reconciles to the GL once a year. On one real ledger, a computer account carried credits that were reversals and reclassifications — the company sold nothing — and CWIP moved in and straight back out as each project capitalised. A debit-equals-addition rule got both wrong.
Credits within the year are often corrections. Reading them as disposals invents a sale and a gain or loss.
Capitalisation is a transfer from CWIP to the block, not an addition and a deduction.
Schedule II useful lives and Income-tax WDV blocks differ, and the deferred tax on the gap is computed by hand.
Assets rarely live alone. Leases, borrowings costs and the ledger all touch them.
Opening, additions, transfers, disposals and closing derived from GL lines, with reversals and reclassifications recognised as such.
Right-of-use depreciation from the lessee engine and underlying-asset depreciation from the lessor engine in the same note.
Schedule II and IT WDV computed side by side; the temporary difference feeds the deferred tax working.
Significant components depreciated over their own lives, as Ind AS 16 requires and most registers skip.
Live pieces are marked; the rest is being built with design partners.
Registers are built from invoices and tags; AI is aimed at that capture work, with the accounting left to the engine.
Capital invoices read into draft asset records with component split suggestions, reviewed before capitalisation.
Flags invoices in expense heads that look capital, with the reason, for a person to decide.
Tag and condition read from a verification photo to speed physical verification.
Across every FinIFRS product the rule is the same: a deterministic, tested engine computes and stores every figure first. AI reads documents, drafts sentences and answers questions over what is already stored — it never computes, posts or approves an amount.
Asset classes, lives and methods differ by entity and change over time — they are effective-dated settings.
Against an ERP FA module and a spreadsheet register.
| Capability | ERP FA module | Spreadsheet register | FinIFRS |
|---|---|---|---|
| Movement schedule derived from GL lines | From register | Manual | ✓ Line by line |
| Reversals and CWIP read correctly | Depends on postings | Manual | ✓ By rule |
| Book and tax depreciation side by side | Often separate | Two sheets | ✓ One run |
| ROU and leased-out assets in the note | — | — | ✓ From lease engines |
The ledger-derived movement schedule and the lease-linked depreciation run today. The full register and impairment workflow are available to design partners — talk to us about joining.
It can sit beside it: we derive the schedule from your ledger and reconcile to your register, so differences surface before audit.
Bring last year's ledger and register. We derive the movement schedule and show you where it and the register disagree.