# Budgets and fixed assets

**Category:** [Accounting](https://help.totalctrl.app/hc/totalctrl/totalctrl-help-center/en-US/categories/accounting)
**Updated:** 2026-08-19

## Budgets

In *Reports → Budgets*, set an annual budget for each revenue and expense account for a fiscal year. The page shows **budget vs actual** variance for each account, pulling actuals straight from the ledger, with favourable/unfavourable colouring.
## Fixed assets & depreciation

In *Accounting → Fixed Assets*, add an asset with its cost, salvage value and useful life in months. Optionally capitalize it (Dr Fixed Assets / Cr Cash). Each month, straight-line depreciation posts automatically (Dr Depreciation Expense / Cr Accumulated Depreciation) until the asset reaches its salvage value. You can also run it on demand with **Run depreciation**.

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## Related Articles

- [Accounting overview](https://help.totalctrl.app/en-US/articles/accounting-overview-2)
- [Payroll: connect Gusto or record runs manually](https://help.totalctrl.app/en-US/articles/payroll)
- [Sales tax: rates and the tax report](https://help.totalctrl.app/en-US/articles/sales-tax)
- [Accounting overview](https://help.totalctrl.app/en-US/articles/accounting-overview-1)
- [Create and send an invoice](https://help.totalctrl.app/en-US/articles/create-an-invoice)

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