How to Import Fixed Assets in Bulk on Tyms

Fixed assets are long-term physical assets that a business uses in its operations to generate income. These assets are not intended for resale. Examples include:

• Machinery
• Vehicles and buildings
• Office equipment.
• Furniture and fixtures

Importing Fixed Assets in Bulk

Tyms allows you to import multiple fixed assets at once using an Excel spreadsheet, instead of creating them manually one by one.

Steps to Import Fixed Assets:

1. Log in to your Tyms account https://app.tyms.io/auth
2. Go to the Fixed Assets module.
3. Click on New, then select Assets Import.
4. On the import page, locate the upload box with an arrow icon.
5. Below the box, click the link that says:
   "Click here to download a sample spreadsheet for assets upload to ensure you have the perfect formatting for your data."
6. Open the downloaded Excel file and fill in your asset information.

Spreadsheet Content

• name:  Name of the asset    
• chart_of_account: This is the account you use to classify the asset    
• depreciation_account: The account you used to resolve the depreciation    
• accumulated_depreciation_account: The account you used to resolve the total depreciation from inception till date    
• period: This is the frequency of an asset depreciation (monthly or yearly).    
• duration: This is the length of time of an asset depreciation.   
• label: This is the unique label used to identify an asset.    
• description: A broader description or note taken for the asset.
• date: This is the date of the asset acquisition.  
• amount: This is the amount the asset was acquired    
• salvage_value: This is the amount that an asset is estimated to be worth at the end of its useful life.    
• vendor: This is the business that an asset was purchased from. 
• payment_account: The account you used to pay the vendor    
• currency: This is the transaction currency in iso format e.g NGN for naira or USD for United states dollar.    
• exchange_rate: This is the transaction currency exchange rate against the base currency of your business    
• amount_paid: This is the amount that was paid for the asset at the point of acquisition.    
• employee: The name of the employee in your organisation that has custody of the asset.      
• branch: The name of the branch in your organization where the asset is located
• depreciation_start_date :  The name of the branch in your organization where the asset is located 

  Important Notes on Formatting

• Date Format: Use YYYY-MM-DD , YYYY/MM/DD, MM-DD-YYYY, or DD-MM-YYYY
• Amount Fields: Do not use commas in numbers (e.g., use 1000000 instead of 1,000,000)
• Ensure the spreadsheet is properly filled and formatted before upload. 

Once your spreadsheet is ready:

1. Save the file as CSV or Excel format.
2. Return to the Assets Import page in Tyms.
3. Upload your file using the provided option.

Your fixed assets will be processed and added to your account in bulk.