Inventory & Fixed Assets

How to track inventory with advanced costing and manage fixed assets with scheduled depreciation.

For businesses that hold stock or own equipment, Seayora offers inventory and fixed-asset modules.

Inventory

Track quantities and value, and — with advanced inventory enabled — use FIFO costing and assemblies/bundles for more accurate cost of goods sold.

Advanced, Inventory (FIFO) tab: Receive, Issue and Build assembly ringed, above an empty list of tracked inventory.
Advanced → Inventory (FIFO): receive stock, issue it to a job, or build an assembly from parts.

Fixed assets

Record assets like vehicles and equipment and post scheduled depreciation automatically, so your balance sheet reflects their declining value over time.

Accounting → Advanced, Fixed assets tab: how depreciation posts, Run depreciation ringed as 1 and New asset ringed as 2.
Advanced → Fixed assets: 2 New asset records a vehicle, tool or piece of equipment; 1 Run depreciation posts the month.

Both are advanced modules controlled by feature flags. Depreciation methods and inventory valuation have tax implications — confirm your approach with an accountant.

Choosing a depreciation method

Common methods include straight-line (equal expense each period) and accelerated methods that front-load the expense. The right choice depends on the asset and your tax strategy — this is a case where a few minutes with your accountant pays for itself.

Frequently asked questions

Do I need advanced inventory if I only stock a few items?

Probably not — basic inventory tracking may be enough. Advanced inventory (FIFO costing, assemblies) is aimed at businesses with meaningful stock complexity.

What happens to a fixed asset when I sell or retire it?

Record the disposal so the asset and its accumulated depreciation come off the books correctly, with any gain or loss recognized — your accountant can confirm the right treatment.

Can I track inventory across more than one location?

Yes, where supported alongside the locations module, so you can see stock levels and value broken out by warehouse, truck, or site.

Do I need advanced inventory just to track a few tools?

No — basic tracking is enough for a small number of items. Save advanced inventory for when FIFO costing or assemblies genuinely matter to your business.

Related guides

Related features and guides

  • Books Modules — Documentation. How to switch off the parts of your books you do not use — recurring invoices, progress invoicing, budgets, bank feeds, the customer portal and more — and what switching one off does.
  • Financial Reports — Documentation. The core reports Seayora produces — Profit & Loss, Balance Sheet, aging, budgets vs. actual — and how to read them.
  • Year-End Close & Books Review — Documentation. A practical checklist for closing your books at year-end — reconciling, reviewing reports, and getting ready to hand off to a tax professional.
  • Job Costing — Feature. Track labor, materials, and vendor costs against each work order or capital project, so you know real margin per job instead of guessing.
  • Bills & Accounts Payable — Feature. Enter and track bills, manage vendor payables, and tie each cost back to the property, unit, or job that generated it.
  • Accounting for Service Professionals: A Practical Starter Guide — Guide. Bookkeeping basics for contractors and trades — chart of accounts, cash vs. accrual, job costing, and the reports that tell you if a job actually made money.

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