# Asset Management

Group: Accounting

[Open in the interactive reference](https://docs.api.lensing.ai/lensing/v1/groups/assetManagement)

Asset management covers fixed assets and how they are depreciated.

A fixed asset is the accounting record of an asset, such as a forklift, in one accounting book. Every fixed asset has a fixed asset type, such as machinery or vehicles.

A depreciation policy sets how fixed assets of each type are depreciated. It sets the useful life, the default depreciation method and period length, and the accounts that depreciation and disposal journal entries post to.

Saving a fixed asset creates its depreciation schedule. The schedule is the plan for depreciating the fixed asset over its useful life, with a line for each period. Recording depreciation for the lines creates the journal entries. You can record depreciation through the API.

## Groups

- [Depreciation Policies](https://docs.api.lensing.ai/reference/lensing/v1/groups/invDepreciationPolicies.html)
- [Fixed Asset Types](https://docs.api.lensing.ai/reference/lensing/v1/groups/invFixedAssetTypes.html)
- [Fixed Assets](https://docs.api.lensing.ai/reference/lensing/v1/groups/invFixedAssets.html)