| Detail | For this role |
|---|---|
| Department | Finance and Accounts |
| Level | Mid level |
| Reports to | Accounts Manager |
| Direct reports | None |
| Experience | 2 to 5 years in accounts with fixed assets |
Fixed Assets Accountant job description template
Copy this job description, replace the text in square brackets and post it on your careers page or a job portal.
Job title: Fixed Assets Accountant
Department: Finance and Accounts
Reports to: Accounts Manager
Location: [City], [office, branch or site]
About the role
A Fixed Assets Accountant looks after the company's assets in the books, from purchase to disposal. They capitalise assets, run depreciation, maintain the fixed asset register and support physical verification. The role reports to the Accounts Manager and matters in asset heavy businesses like manufacturing and hospitals. A good Fixed Assets Accountant keeps the register accurate, applies the right capitalisation and depreciation, and makes sure what is on the books actually exists on the floor.
Key responsibilities
- Capitalise new assets with the correct cost, class and useful life.
- Maintain the fixed asset register and keep it matched to the ledger.
- Run monthly depreciation and check it against the schedule.
- Track capital work in progress and capitalise it on commissioning.
- Support physical verification and reconcile assets to the register.
- Record transfers, retirements and disposals with gain or loss.
- Apply depreciation rates under the Companies Act and Income Tax Act.
- Tag assets and keep location and custodian records current.
- Support statutory and tax audits with fixed asset schedules and workings.
- Report additions, disposals and net block movements each period.
Requirements
- B.Com or M.Com
- Knowledge of fixed asset and depreciation rules
- ERP fixed asset module experience
- 2 to 5 years in accounts with fixed assets
KRAs and KPIs for a Fixed Assets Accountant
Key result areas for the appraisal form, each with a KPI you can measure every month or quarter.
| Key result area | How to measure it |
|---|---|
| Register accuracy | Fixed asset register matched to the ledger every month with no gap |
| Depreciation | Depreciation run and checked correctly with no error carried to audit |
| Capitalisation | Assets capitalised within the agreed days of being put to use |
| Physical verification | Verification differences investigated and cleared within the agreed time |
| Audit support | Asset schedules ready before audit with no major observation |
Skills and tools
Tools used day to day: SAP FI-AA, Tally Prime, Advanced Excel, Asset tagging tools, Fixed asset software.
Reporting line and career path
Next roles: Senior Accountant, Accounts Manager, Financial Controller
Interview questions for a Fixed Assets Accountant
- What costs do you capitalise when buying a machine?
- How do you decide the useful life and depreciation of an asset?
- How do you treat capital work in progress at year end?
- How do you handle an asset found in verification but not in the register?
- How do you record the disposal of an asset with a loss?
- How do you keep the register matched to the ledger?
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What does a Fixed Assets Accountant do?
A Fixed Assets Accountant looks after company assets in the books. They capitalise assets, run depreciation, maintain the fixed asset register, track capital work in progress and support physical verification. They record transfers and disposals, apply the correct rates and keep asset schedules ready for audit, reporting to the Accounts Manager.
What is capitalisation in fixed asset accounting?
Capitalisation means recording the full cost of bringing an asset into use as a fixed asset rather than an expense. It includes the purchase price plus freight, installation and other costs needed to make it ready. The asset is then depreciated over its useful life instead of charged at once.
What qualifications does a Fixed Assets Accountant need?
Most Fixed Assets Accountant roles ask for a B.Com or M.Com with knowledge of fixed asset and depreciation rules under the Companies Act and Income Tax Act. Two to five years in accounts and experience with an ERP fixed asset module such as SAP are expected.