Fixed Asset Register & CRA Depreciation
Folio AI detects capital expenditures automatically, assigns the correct CCA class, and maintains depreciation schedules — all within your existing document workflow.
CapEx detection built into document processing
When a document is processed, Folio AI checks whether the purchase amount meets your firm's CapEx threshold (CAD $500 or USD $2,500 by default, configurable per client). Items above the threshold that match fixed asset categories are flagged for capital treatment before the entry is approved.
No separate asset management step required. The fixed asset register is populated as a natural part of the review and approval workflow.
CCA class detection
Folio AI assigns CRA Capital Cost Allowance classes based on vendor category and item description. The most common classes are supported out of the box:
| Class | Rate | Description |
|---|---|---|
| Class 8 | 20% | Miscellaneous equipment — office furniture, tools, machinery |
| Class 10 | 30% | Automotive vehicles and certain computer equipment |
| Class 10.1 | 30% | Passenger vehicles costing over $36,000 |
| Class 12 | 100% | Computer software, small tools under $500, cutlery |
| Class 14.1 | 5% | Goodwill and eligible capital property |
| Class 43 | 30% | Manufacturing and processing equipment |
| Class 50 | 55% | General-purpose computing equipment and systems software |
| Class 53 | 50% | Manufacturing equipment acquired after 2015 |
What the fixed asset register tracks
Cost and acquisition date
Original cost in CAD (with USD-to-CAD conversion at the Bank of Canada rate on the invoice date) and the acquisition date extracted from the document.
Annual CCA amounts
Depreciation calculated using the half-year rule for the year of acquisition, with full CCA applied in subsequent years. The register shows depreciation by year for the life of the asset.
Undepreciated Capital Cost
Maintains the running UCC balance for each asset and for each CCA class in aggregate — ready to roll forward into the next year's return.
Disposal tracking
When an asset is sold or retired, the disposal is recorded against the asset and the class UCC is adjusted. Recapture and terminal loss are calculated automatically.
Build your fixed asset register automatically
Talk to us about setting up CapEx thresholds and CCA classes for your client portfolios.
Talk to us