Campfire tracks assets through their full lifecycle, from initial acquisition to disposal. New assets are recorded with complete details including cost, purchase date, supplier, location, and depreciation method. When assets are retired, sold, or written off, the system calculates any gain or loss and updates the books accordingly. It also supports inter-company transfers, partial disposals, and impairment adjustments. This ensures asset records remain accurate and up to date at every stage.
Campfire creates detailed records when assets are acquired, supporting direct purchases, lease capitalisation, and construction-in-progress transfers. Each asset is assigned to the correct class, cost centre, and depreciation method. Once the asset is placed in service, depreciation begins automatically based on the defined rules. Bulk import tools allow teams to add large numbers of assets efficiently, which is useful during system setup or when integrating acquisitions. This helps maintain consistency across the asset register.
Campfire automates asset disposals by calculating net book value at the time of sale or retirement and determining any resulting gain or loss. It generates the required journal entries to remove the asset and accumulated depreciation, record proceeds, and recognise the outcome in the correct period. Each disposal is linked back to the original asset record, providing full traceability. Reporting tools give visibility into disposal activity, helping teams monitor changes across the asset portfolio.
Why Campfire Stands Out
