Campfire manages the full capitalisation process, from identifying eligible spend through to creating assets in the register. It evaluates each cost against defined thresholds and policy rules, ensuring only valid items are capitalised. Qualifying expenditures are routed through approval workflows before being converted into asset records. The process connects directly with accounts payable and project accounting, capturing costs as they occur and building a complete view before assets are placed in service. This ensures accuracy and consistency in how capital assets are recognised.
Campfire checks each expense against capitalisation criteria, including minimum value, asset type, and expected useful life. For assets built over time, the system groups costs from invoices, labour, and overheads into a single construction-in-progress record. Once the asset is ready for use, accumulated costs are transferred to the appropriate asset category and depreciation begins automatically. This removes manual tracking and ensures all relevant costs are included in the final asset value.
Campfire routes all capitalisation decisions through configurable approval workflows that reflect internal policies. Approvers can review supporting documents, cost details, and asset classifications before confirming or rejecting requests. Every action is recorded, creating a full audit trail of decisions and changes. This provides strong governance over asset creation and supports compliance with internal controls and audit requirements, giving finance teams confidence in the integrity of fixed asset records.
Why Campfire Stands Out
